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Wheat futures closed 9 to 14 cents lower on the day and were 28 to 43 cents lower on the week.Informa economics is looking for a 16 million bushel increase in the US wheat production figure released by the USDA on September 30, stemming from what they think will be a 0.2 bushel per acre increase in the average yield. US Export commitments (shipments plus outstanding sales) total 51% of the much reduced USDA forecast for the entire year. They are running ahead of the 49% average for this date. The EU approved 505,000 MT of wheat export licenses this week. Egypt tonight is tendering to buy wheat for October 21-31 delivery. Spec funds trimmed their net long position in KC wheat by 5,151 contracts last week, and also extended their big net short in Chicago by another 5,380 contracts.
Dec 14 CBOT Wheat closed at $4.74 1/2, down 14 cents,
Dec 14 KCBT Wheat closed at $5.60 1/4, down 9 1/2 cents,
Dec 14 MGEX Wheat closed at $5.35 1/2, down 14 3/4 cents