“`html
The wheat complex experienced declines at the end of the week, with CBT soft red wheat futures closing down 15 cents for December. KC HRW futures saw a mixed performance, gaining 2 cents in thin September trading but overall down 14 ½ cents for December. MPLS spring wheat recorded losses of 4 to 5 cents, with December falling 14 cents since last Friday.
According to the USDA’s Export Sales report released on August 28, a total of 312,978 MT of wheat was sold, marking the second-lowest volume for the marketing year. Nigeria was the largest buyer at 117,100 MT, followed by Mexico with 90,400 MT and the Philippines at 65,800 MT. US FOB prices have become increasingly competitive, aligning more closely with French and Russian prices.
As of September 2, spec funds increased their net short position in Chicago wheat futures to 81,943 contracts and in Kansas City wheat to 54,681 contracts. Closing prices included: Sep 25 CBOT Wheat at $5.01 (down 1 1/4 cents), Dec 25 CBOT Wheat at $5.19 1/4 (down 1/4 cent), and Sep 25 MGEX Wheat at $5.45 1/4 (down 4 1/4 cents).
“`
