The wheat complex was mixed on Friday, with the KC wheat market being the weakest. Chicago SRW futures were up 1 to 2 cents to round out Friday, as March was 19 ½ cents lower this week. KC HRW futures saw 1 to 2 cent losses, as March was just 2 ¾ cents in the red this week. MPLS spring wheat was 5 to 6 cents higher on Friday, with March closing the week up 2 ¼ cents.
Export Sales data will be released on Monday morning, catching up for the week ending on 12/4, with analysts looking for between 300,000-600,000 MT in wheat sales during that week.
A back logged update from CFTC showed spec traders in CBT wheat futures and options adding back 2,228 contracts to the net short position as of December 19 to 46,069 contracts. In KC wheat, managed money trimmed just 900 contracts from their net short to 17,011 contracts.
South Korea purchased a total of 50,000 MT of wheat from the US and 9,200 MT from Canada overnight. Buenos Aires Grain Exchange estimates the Argentina wheat crop at 27.1 MMT, up 1.6 MMT from the previous number.
Mar 26 CBOT Wheat closed at $5.09 3/4, up 2 cents,
May 26 CBOT Wheat closed at $5.20 1/2, up 1 3/4 cents,
Mar 26 KCBT Wheat closed at $5.15 1/4, down 1 3/4 cents,
May 26 KCBT Wheat closed at $5.27 3/4, down 1 1/2 cents,
Mar 26 MGEX Wheat closed at $5.78, up 5 cents,
May 26 MGEX Wheat closed at $5.89 1/2, up 5 1/2 cents,
