The wheat complex experienced significant declines across all major exchanges as of September 15. Chicago SRW futures dropped between 6 to 13 cents, with December contracts closing at $7.14 1/4, down 12 3/4 cents from the previous week. KC HRW futures decreased by 2 ¼ to 10 ¾ cents, with December down 14 ¾ cents for the week, while MPLS spring wheat saw reductions of 4 ¼ to 11 ¼ cents.
Speculative funds in Chicago wheat futures shifted to a net short position, decreasing by 8,968 contracts to a net short of 4,706 contracts. Additionally, managed money in KC wheat trimmed their net long holdings by 5,490 contracts to 45,758. Export sales data for the 2026/27 season revealed a total of 9.178 million metric tons, reflecting a 30% drop from the same week last year and 44% of the USDA’s export projection.
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