“`html
On Thursday, the wheat complex showed continued weakness, with Chicago SRW futures down 5-6 cents, KC HRW futures slipping 6-7 cents, and MPLS spring wheat futures decreasing by 5-7.75 cents. However, the USDA reported a private export sale of 132,000 MT of white wheat to China.
For the week of October 2, wheat export sales reached 887,864 MT, surpassing analysts’ estimates of 350,000-600,000 MT and marking a marketing year high. Additionally, Saudi Arabia has issued a tender for 300,000 MT of wheat with offers due Friday.
Weather forecasts indicate rain across the Southern Plains, with Texas, Oklahoma, and Arkansas expecting 4-6 inches. The delayed Commitment of Traders data showed speculators increasing their net short positions in CBT wheat by 1,474 contracts, bringing the total to 99,209 contracts, and in KC wheat by 3,569 contracts, totaling 53,873 contracts net short.
“`
