Wheat futures turned red during the day session and ended 5 cents near the lows. SRW futures were down by 12 ¼ to 14 cents. KC ended with 13 ¼ to 14 ¾ cent losses. Spring wheat futures were 7 ¼ to 8 ¾ cents lower at the close.
Wire sources have Egypt on the market with a GASC tender for March delivery.
Commitment of Traders data had Chicago wheat specs closing shorts during the week that ended 1/9. That reduced the group’s net short to 57,988 contracts. Spec traders added 1k new positions in KC, on net reducing their net short by 270 contracts to 34.2k. CFTC data had the funds as net new sellers in MGE wheat during the week, extending their net short to 28,637 contracts.
Mar 24 CBOT Wheat closed at $5.82, down 14 cents,
May 24 CBOT Wheat closed at $5.96, down 14 cents,
Mar 24 KCBT Wheat closed at $6.01 1/2, down 13 3/4 cents,
Mar 24 MGEX Wheat closed at $6.90 3/4, down 8 3/4 cents,
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