International Wheat Market Update

18-Jan-2025 08:18 AM

International Wheat Market Update
Markets and government offices will be closed on Monday due to Martin Luther King Jr. Day, with normal operations resuming on Tuesday.
According to the Commitment of Traders data, speculative funds increased their net short position in Chicago wheat futures and options by 5,756 contracts through Tuesday, bringing their total net short position to 94,393 contracts. Meanwhile, in Kansas City wheat, they were net short by 37,606 contracts, a rise of 5,748 contracts as of January 14.
The weekly export sales report released Thursday morning showed that wheat sales for the week ending January 9 were 513,424 MT. This brings total sales and shipments for the marketing year to 17.705 MMT, or 77% of the USDA's projection, trailing behind the average sales pace of 85%.