Wheat is showing gains across the winter wheats on Monday morning, with spring wheat steady. The wheat complex rounded out the week with losses across much of the market, with nearby spring wheat an exception. CBT soft red wheat futures were down 2 to 3 cents, as September was 1 ¾ cents lower last week. KC HRW futures were down 4 to 5 ¼ cents across most contracts on the day, as September slipped another 9 cents from last Friday. MPLS spring wheat closed out the Friday session with contracts steady to a penny higher, as September was down ½ cent on the week.
Weekly CFTC data showed spec traders in Chicago wheat increasing their bearish position by 8,837 contracts to a net short of 98,132 contracts by Tuesday. In KC wheat, managed money added 825 contracts to their net short to 51,380 contracts as of August 19.
