Wheat futures are trading with losses across the three markets to start the week. The wheat complex posted double digit gains on Friday, as September rolled off the board. Chicago SRW futures were up 10 ½ to 16 ¼ cents on the day, as December closed the week up 27 ¾ cents. KC HRW was 10 to 13 cents higher across the board, with now nearby Dec up 22 ½ cents. MPLS spring wheat was 5 to 13 ¾ cents higher across the board to close out the Friday session, as Dec was 21 ¾ since last Friday. 

Friday afternoon’s CFTC report showed spec funds covering 13,227 contracts of their large net short position in CBT wheat futures and options as of September 10, to 29,397 contracts. In KC wheat, they peeled back 8,727 contracts from their net short to 18,510 contracts.

USDA’s Export Sales report from Thursday saw total wheat commitments at 10.844 MMT through September 5, a 4-year high and 30% larger than last year. That is also 48% of the USDA export forecast, with the 5- year average running 51% of that projection.

Dec 24 CBOT Wheat  closed at $5.94 3/4, up 16 1/4 cents, currently down 8 3/4 cents

Dec 24 KCBT Wheat  closed at $6.00, up 13 3/4 cents, currently down 9 3/4 cents

Dec 24 MGEX Wheat  closed at $6.35 1/2, up 13 3/4 cents, currently down 9 1/2 cents