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The wheat complex reported midday losses on Wednesday, with Chicago SRW futures down 2 cents, KC HRW futures declining by 3 to 4 cents, and MPLS spring wheat slightly lower. There were no deliveries against December CBT wheat overnight, while 66 deliveries were made against December KC wheat.
The CFTC released delayed Commitment of Traders data indicating that CBT wheat specifications reduced their net short position by 2,918 contracts to 108,825 contracts, and KC wheat specs cut 433 contracts from their net short position, bringing it to 67,271 contracts.
Upcoming Export Sales data for the week ending on October 31 is expected to show wheat bookings between 250,000 and 650,000 MT. Additionally, a South Korean importer secured 30,300 MT of wheat in a tender, while Algeria reportedly purchased between 500,000 and 600,000 MT in their tender.
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