Wheat is edging slightly higher across the three main markets on Monday. The wheat complex is fell to weakness on Friday across all three exchanges. Chicago SRW futures were down 10 ¾ to 17 cents on the day, with December losing 26 ¼ cents on the week. KC HRW contracts were 11 3/4 to 15 1/4 cents lower on the session, with Dec down 23 ¾ cents since last Friday. Preliminary open interest showed net new selling on Friday, with CBT up 10,511 contracts and KC wheat up 7,094 contracts. MPLS spring wheat was 5 ¾ to 12 ¼ cents lower across the board on Friday, with December down 27 ¼ cents on the week. 

A delayed Export Sales report showed a 7-week high of 504,112 MT of wheat booked in the week of October 10. That was on the higher side of the 250,000 to 550,000 MT estimates and up 16.27% from last week. Mexico was the lead buyer of 135,000 MT, with the Philippines purchasing 70,000 MT. 

CFTC data showed CBT wheat managed money spec funds trimming 3,436 contracts from their net short to 26,013 contracts as of October 15. In KC wheat, they increased their net short by 604 contracts to 6,488 contracts as of Tuesday.

The FranceAgriMer showed the country’s soft wheat crop at 10% planted as of October 14.

Dec 24 CBOT Wheat  is at $5.72 3/4, down 16 3/4 cents, currently up 3/4 cents

Mar 25 CBOT Wheat  is at $5.92 1/2, down 17 cents, currently unch

Dec 24 KCBT Wheat  is at $5.80 3/4, down 15 1/4 cents, currently up 2 cents

Mar 25 KCBT Wheat  is at $5.95 3/4, down 14 1/4 cents, currently up 2 cents

Dec 24 MGEX Wheat  is at $6.16 1/2, down 12 1/4 cents, currently up 3 cents

Mar 25 MGEX Wheat  is at $6.38, down 12 cents, currently up 1 1/2 cents