Wheat (P) Futures PricesFri, Apr 24th, 2015
Latest Brugler Wheat (P) Report
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Wheat futures are trading steady to as much as three cents lower this morning. Chicago May was down 8 cents last week and KC was off 6 cents. The trade is generally looking for 1-2% more of the winter wheat crop to be in good or excellent condition in tonight’s USDA Crop Progress report. Managed money accounts increased their net short positions in CBT and KC wheat during the week ending Tuesday April 21 by -14,502 and -10,041 respectively. The Chicago spec short reached a net 96,624 contracts. That is a new all time record bearish position in that contract for the specs using the Disag report series which began in 2006. The CME daily limit for Chicago wheat will go to 40 cents from 35 cents on May 1. KC will remain at 40 cents.
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