The wheat complex weakened on Friday as a $0.893 gain in the dollar index added some pressure. Chicago SRW futures saw losses of 3 to 4 ¼ cents on the day as March rose 8 ½ cents on the week. KC HRW futures were down 2 to 3 cents at the close, though March held on to a 4-cent gain. MPLS spring wheat closed Friday with losses of 3 to 4 cents as March rose 3 ¼ cents on the week.

Traders’ commitment data on Friday indicated managed money covering some shorts in Chicago wheat futures and options from 1/27, cutting 15,957 contracts from its net short to 94,743 contracts. In KC wheat, traders of spec. they trimmed 2,689 contracts from their net short position to 10,329 contracts.

Export sales data shows cumulative wheat sales commitments at 21,595 MMT, which is 18% ahead of the same week last year. That’s 88% above the USDA forecast and in line with the average pace of 89%.

March 26 CBOT Wheat closed at $5.38, down 3 1/2 cents,

On May 26 CBOT Wheat closed at $5.46, down 4 1/4 cents,

March 26 KCBT Wheat closed at $5.44 3/4, down 2 1/4 cents,

On May 26 KCBT Wheat closed at $5.55, down 2 3/4 cents,

March 26 MIAX Wheat closed at $5.78 1/4, down 3 1/4 cents,

May 26 MIAX Wheat closed at $5.92 1/2, down 3 cents,

As of the date of publication, Austin Schroeder had no positions (either directly or indirectly) in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. This article was originally published on Barchart.com