The wheat complex wound up lower across the three markets on Friday. Chicago SRW contracts was mixed, down ¼ to 5 cents higher on the day, as December was 21 ½ cents lower on the week. KC HRW futures were down a penny in the front months and higher in the deferreds, with December down 20 ¼ cents this week. MPLS spring wheat was fractionally to a penny lower on the session and down 17 ¾ for the week.
CFTC’s weekly Commitment of Traders report indicated managed money in Chicago wheat futures and options adding another 23,725 contracts to their net short position as of Tuesday, holding a net short of 74,859 contracts. As of October 27th, spec funds flipped to a net short of 1,865 contracts, a move of 8,260 contracts on that week.
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