Wheat International Market
As of September 15, spec funds in Chicago wheat futures and options had moved back to a net short position. They reduced their position by 8,968 contracts, taking the net short position to 4,706 contracts.
In KC Wheat, Managed Money reduced its net long position by 5,490 contracts, bringing the net long position to 45,758 contracts.
Funds were taking some money off the table heading into the weekend. Black Sea exports from Russia and Ukraine remain limited despite recent calls for de-escalation.
According to Thursday’s Export Sales data, 2026/27 wheat sales have reached 9.178 MMT, down 30% from the same week last year. This represents 44% of the USDA export projection and trails the 53% average pace.
