Wheat is showing mixed trade on Monday morning. The wheat complex posted Friday losses across most contracts at the close. Chicago SRW futures posted 3 to 5 cent losses on Friday, with March 2 ¾ cents in the red. KC HRW futures were down 2 to 4 cents across most contracts with March managing to close 3 ¾ cents higher since last Friday. There were 70 deliveries against December KC wheat on Friday. MPLS spring wheat was up steady in the front months, as March was a nickel lower on the week.
A delayed CFTC report for the week of October 28 showed specs in Chicago wheat slashing 33,692 contracts from their net short position as to 75,133 contracts. In KC wheat, the trimmed 15,563 contracts from their net short to 51,708 contracts.
