Wheat prices saw a rebound on Monday morning, with contracts rising between 7 to 13 cents. This comes after the wheat complex experienced declines on Friday, where Chicago SRW contracts dipped by up to 1.25 cents, though September contracts managed a weekly increase of 6.75 cents. In contrast, Kansas City (KC) HRW futures dropped between 1.75 to 6 cents, while Minneapolis spring wheat fell by 2.5 to 4 cents.
According to the CFTC’s Commitment of Traders report, managed money reduced its net short position in Chicago wheat by 4,916 contracts, bringing it down to a total of 26,485 contracts as of August 18. Meanwhile, in KC wheat, net long contracts increased by 7,173 to reach 34,835. Additionally, the USDA’s weekly Export Sales report indicated total wheat sales for the 2026/27 period at 7.936 million metric tons, reflecting a 31% decrease compared to the previous year.
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