Wheat Futures Show Mixed Performance Across Exchanges
On Monday, wheat futures showed mixed early trading across the three major exchanges. Chicago SRW contracts fell between 8¼ to 16¼ cents per bushel with December down significantly for the week. KC HRW and Minneapolis spring wheat also saw declines in prices amid rising open interest on Friday. The USDA left U.S. production estimates unchanged ahead of the Small Grains Summary due at the end of September, while global stockpiles increased by 3.04 MMT to reach 276.29 MMT. Export sales for wheat were below expectations in the week ending September 3 with a notable drop compared to previous years. Managed money reduced its net long position in Chicago wheat futures and options, while speculative positions rose slightly in Kansas City wheat.
Topics: futures_trading USDA_report wheat