The wheat complex is showing mixed trade on Friday. Chicago SRW futures were down 3 ½ to 6 cents higher on the Friday session, with May 27 ¼ cents lower on the week. KC HRW futures were down ¾ to 3 cents on the day, with front month May the lone exception, up ¼ cent. May fell 25 cents on the week. MPLS spring wheat was 3 ¼ to 6 ¾ ents lower on Friday, with May 35 ¼ cents in the red on the week. Crude oil was down $2.24 on the day, as risk was taken off the table ahead of the US/Iran talks this weekend.
Commitment of Traders data showed CBT wheat specs flipping back to a net short of 5,633 contracts by a move of 14,274 contracts in the week ending on April 7. In KC wheat, managed money was net long 15,608 contracts, a 5,909 contract reduction on the week. MPLS wheat spec funds extended their record net long by 205 contracts to 20,361 contracts.
