Wheat futures finished the day steady to 5 3/4 cents lower in most contracts. MPLS ended with a 1.34% loss on the week, while CBT and KC were positive. This morning’s USDA export sales report indicated 2017/18 export sales of 375,278 MT for the week of June 29, down 23.7% from the previous week and 54.5% lower than the same time last year. Export shipments of 541,078 MT were reported, 1.4% above last year but 27.9% lower than a week ago. Managed money was reported to have their largest net long position in CBT wheat futures and options in almost two years at 18,003 contracts on July 3.
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