Wheat markets are experiencing losses as of Monday morning, with Chicago SRW futures down 3 to 4¼ cents and KC HRW futures declining 2 to 3 cents at the close. The dollar index rose by $0.893, contributing to this downward trend. As of the last trading data, March CBOT Wheat settled at $5.38, down 3½ cents, while May was at $5.46, also down 4¼ cents.
Recent Commitment of Traders data indicates managed money reduced their net short position in Chicago wheat futures by 15,957 contracts, lowering it to 94,743 contracts. Meanwhile, accumulated U.S. wheat sale commitments reached 21.595 million metric tons, 18% higher than the same week last year and 88% of the USDA’s forecast. Notably, Taiwan purchased 106,350 metric tons of wheat from the U.S. late last week.
