Wheat

Wheat futures ended the Friday session 3 3/4 to 4 cents lower. Spec funds in Chicago wheat futures and options were reported at a net short position of -752 contracts in the week ending 6/19. That was a net move of 15,655 contracts from their previously held net long position. They trimmed their net long in KC wheat to 47,213 contracts. Philippines bought in 220,000 MT of feed wheat on Thursday, with origins likely Australia or the Black Sea region. The Buenos Aires Grain Exchange estimates that the Argentine wheat crop is 49% planted. Ukraine’s ag minister estimates the country’s 2018 wheat crop will total somewhere in the range of 23-26 MMT, down from last year’s harvest of 26.2 MMT.

Jul 18 CBOT Wheat closed at $4.91 1/4, down 4 cents,

Jul 18 KCBT Wheat closed at $4.88 3/4, down 4 1/2 cents,

Jul 18 MGEX Wheat closed at $5.49, down 3 3/4 cents




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