Wheat futures saw Friday losses across the three exchanges. Chicago SRW futures were down 7 ¾ cents in the nearby contracts, as Dec was up 15 ½ cents since last Friday. KC HRW was 11 ¼ cents higher in the front months to close out the day, as December tallied 12 ¼ cents over the shortened week. MPLS spring wheat was down 12 to 15 cents in the nearbys, with December gaining 13 ¼ cents on the week. 

Friday morning’s USDA Export Sales report indicated just 340,032 MT of all wheat export sales in the week that ended on August 29. That was on the low-end estimates running 300,000 MT to 600,000 MT in that week and a 3-week low. The top buyer was Leeward and Windward Islands of 58,500 MT, with 51,800 MT sold to Mexico.

The weekly update to CFTC data showed spec funds in Chicago wheat cutting 13,578 contracts from their net short position as of Tuesday, taking it to the smallest since early June at 42,624 contracts. In KC wheat, they were covering 4,765 contracts of their net short to 27,237 contracts.

Canadian stocks will be updated on Monday morning via Stats Canada with the trade expecting to show wheat stocks at 3.555 MMT at the end of July.

Sep 24 CBOT Wheat  closed at $5.53 1/4, down 7 3/4 cents,

Dec 24 CBOT Wheat  closed at $5.67, down 7 3/4 cents,

Sep 24 KCBT Wheat  closed at $5.69 3/4, down 11 1/4 cents,

Dec 24 KCBT Wheat  closed at $5.77 1/2, down 11 1/4 cents,

Sep 24 MGEX Wheat  closed at $5.85 1/4, down 14 1/2 cents,

Dec 24 MGEX Wheat  closed at $6.13 3/4, down 12 cents,