The wheat complex was mixed on Friday, with the winter wheats slipping back and spring wheat seeing strength. KC HRW futures were down 3 to 4 1/2 cents across most contracts on Friday with September down just 1/2 cent this week. CBT futures were 3 to 4 cents in the red on the day, with September down 2 ¼ cents. MPLS spring wheat saw gains of 2 to 3 cents to close Friday, with September spring wheat up 4 ½ cents this week.
Weekly CFTC data showed a total of 15,445 contracts added to the spec fund net short position in CBT wheat as of 8/5, taking it to 80,759 contracts. In KC wheat futures and options, managed money added 9,783 contracts to that net short to 57,063 contracts.
Analysts estimate the US wheat production total to be tallied at 1.922 billion bushels in Tuesday’s Crop Production report, which would be down 7 mbu from last month.
USDA has the 2025/26 wheat export book at 10.309 MMT in shipped and unshipped sales, which is the highest since 2017/18 for this specific week. That is 20% ahead of last year and 45% of the USDA forecast, which is ahead of the 41% average pace.
The French Farm Ministry estimates the French wheat crop at 33.1 MMT, 0.5 MMT increase from last month. IKAR estimates the Russian wheat crop at 84.5 MMT, up 0.5 MMT from the pervious projection.
Sep 25 CBOT Wheat is at $5.14 1/2, down 3 3/4 cents,
Dec 25 CBOT Wheat is at $5.35, down 4 cents,
Sep 25 KCBT Wheat is at $5.18 1/4, down 3 1/4 cents,
Dec 25 KCBT Wheat is at $5.37 1/4, down 4 1/2 cents,
Sep 25 MGEX Wheat is at $5.76 3/4, up 2 3/4 cents,
Dec 25 MGEX Wheat is at $5.97 1/4, up 2 1/4 cents,
