Wheat Markets Hover Near UNCH or A Little Higher
BRUG - Mon Sep 16, 7:30AM CDT

Wheat futures are hovering around UNCH in the CHI and MPLS contracts this morning. KC HRW is up 1 1/2 cents per bushel in most contracts. They ended the Friday session with most KC and MPLS contracts steady to 4 cents lower and CBT slightly higher. Credit that to pre-weekend profit taking. Preliminary open interest in Chicago SRW was down 1,117 contracts. On the week, Dec CBT wheat was up 4.26%, with KC 1.53% higher and MPLS up 2.12%. CFTC data showed specs in MPLS wheat futures and options adding 1,657 contracts to their record net short position to 22,805 contracts as of Tuesday. USDA made several changes to the production category of other main countries on Thursday. They cut Australia by 2 MMT to 19 MMT, with Ukraine and Russia both down 0.5 MMT to 28.7 MMT and 72.5 MMT respectively.

Source: Brugler Marketing & Management




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