Wheat

Wheat futures ended the day with 6 to 9 cent losses in the CBT and MPLS contracts, while KC was down 11 3/4 cents. Nearby KC lost 2.17% on the week, with MPLS up 1.61% and CBT 1/4 cent higher. Parts of HRW country are expected to catch some moisture this weekend from a storm that is bringing blizzard warnings to the Northern Plains. The managed money spec funds cut back their net short position in Chicago wheat by 18,546 contracts in the week ending 4/10, leaving them at -54,872 ahead of the late week sell off. Taiwan is seeking 92,975 MT of wheat from the US, with the tender to close on April 18. Russia’s IKAR consulting firm increased their export estimate for Russia to 39.5 MMT.

May 18 CBOT Wheat closed at $4.72 1/2, down 8 1/2 cents,

May 18 KCBT Wheat closed at $4.95 3/4, down 11 3/4 cents,

May 18 MGEX Wheat closed at $6.17, down 6 cents




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