BRUG - Mon Aug 21, 11:35AM CDT

Wheat futures are mostly 5 to 8 cents lower in the CBT and KC contracts, with MPLS 10 to 13 cents in the red. Wheat exports for the week of August 17 totaled 583,126 MT, 13.98% larger than last week and 8.49% above this time last year. As of last Tuesday, spec funds were reporting a net position of -34,236 contracts in Chicago wheat futures and options, 20,135 more bearish than the previous week. In KC wheat futures and options, they had reduced their net long position by 14,326 contracts in a week to +34,609 contracts. Taiwan purchased 98,850 MT of US wheat last week, with Oct shipment. The Saudi Grains Organization purchased 490,000 MT of wheat over the weekend, with origins from the EU, North and South America, and Australia.

Sep 17 CBOT Wheat is at $4.09, down 7 cents,

Sep 17 KCBT Wheat is at $4.06, down 8 1/2 cents,

Sep 17 MGEX Wheat is at $6.55 3/4, down 13 cents

Market Commentary provided by:

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