Wheat Heads for Weekend Lower

At the closing bell on Friday, front month wheat futures were down 1/2 to 5 1/4 cents on the CBT. Kansas City HRW was down 3/4 to 1 1/2 cents on the day. MPLS wheat futures closed the session mixed, within a penny of UNCH. CFTC data showed that managed money SRW traders were 48,896 contracts net long on 10/27. That was an 832 contract reduction to the net position by way of more additional shorts. Managed money OI increased 14,740 contracts from week to week. For HRW, spec traders were net buyers and increased their net long 3,264 contracts to 41,410. Managed money speculative traders doubled their MPLS net long to 8,877 contracts.

Dec 20 CBOT Wheat closed at $5.98 1/2, down 5 1/4 cents,

Dec 20 KCBT Wheat closed at $5.41 1/4, down 3/4 cent,

Dec 20 MGEX Wheat closed at $5.52 1/4, unch,

--- provided by Brugler Marketing & Management

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