The wheat complex posted Friday losses across most contracts at the close. Chicago SRW futures posted 3 to 5 cent losses on Friday, with March 2 ¾ cents in the red. KC HRW futures were down 2 to 4 cents across most contracts with March managing to close 3 ¾ cents higher since last Friday. MPLS spring wheat was up steady in the front months, as March was a nickel lower on the week.
A delayed CFTC report for the week of October 28 showed specs in Chicago wheat slashing 33,692 contracts from their net short position as to 75,133 contracts. In KC wheat, the trimmed 15,563 contracts from their net short to 51,708 contracts.
Export Sales data for the week of November 6 will be released on Monday, with a survey of analysts showing estimates of 250,000 to 600,000 MT of wheat bookings in that week.
USDA will publish their monthly WASDE report on Tuesday, with analysts surveyed by Bloomberg looking for 894 mbu in wheat ending stocks. That would be a 7 mbu drop from last year if realized.
FranceAgriMer estimates the French soft wheat crop at 99% planted as of December 1. Crop ratings were at 96% good/excellent, slipping 1 point on the week.
Dec 25 CBOT Wheat closed at $5.37 1/2, down 3 1/2 cents,
Mar 26 CBOT Wheat closed at $5.35 3/4, down 4 1/2 cents,
Dec 25 KCBT Wheat closed at $5.23 1/4, down 6 1/4 cents,
Mar 26 KCBT Wheat closed at $5.31 1/4, down 2 3/4 cents,
Dec 25 MGEX Wheat closed at $5.82 1/2, unch,
Mar 26 MGEX Wheat closed at $5.73, unch,
