Wheat Prices Decline Amid Mixed Export Data
On Monday, wheat futures across major exchanges are experiencing losses as part of a broader decline in commodity markets. Chicago SRW contracts fell by 15 to 16 cents per bushel while KC HRW and Minneapolis spring wheat also posted declines ranging from 7 to 14 cents. The USDA's Export Inspections report showed an increase in weekly wheat shipments, with 394,785 metric tons (14.51 million bushels) shipped during the week of July 23—up significantly compared to both the previous and same period last year. However, cumulative marketing-year totals remain below prior levels by 23%. Bangladesh was a key destination for these exports. Managed money traders in wheat futures reduced their net short positions on CBT contracts while increasing longs in KC wheat, according to recent Commitment of Traders data.
Topics: commodity prices export data wheat