International Wheat Market Report 23rd October 2017

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Wheat futures fell 4 to 7 cents in most contracts to end the week. Managed money spec funds in KC wheat futures and options went 5,505 contracts more bearish last week. They went home net short 4,662 contracts on October 17. In Chicago wheat futures and options, they increased the size of their CFTC net short position another 9,963 contracts to -77,692. The USDA Ag attach in Australia sees the 2017 production at 20 MMT, 1.5 MMT below the current WASDE supply and demand table, mainly due to dry weather impacts on yield.

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