Wheat in the Red on Monday

Wheat futures are down 1 to 4 cents in most contracts at midday. All wheat shipments during the week that ended on August 15 totaled 488,905 MT according to Export Inspections data. .That was down 32% from the previous week and slightly higher than the same week a year ago. Mexico was the largest destination for wheat at 100,916 MT. Morocco is seeking 576,000 MT of milling wheat and 345,455 MT of US durum wheat a under preferential tariff quota in a tender due on September 5. The Commitment of Traders report showed spec funds further reducing their Chicago net long positions to 4,088 contracts, down 35% for the week ending August 13. In KC wheat they boosted their net short position to 33,272 contracts as of Tuesday. They also added to a record net short position in MPLS wheat on that date of -18,903 contracts.

SEP 19 CBOT Wheat is at $4.67 1/2, down 3 1/4 cents,

SEP 19 KCBT Wheat is at $3.91, down 3 1/4 cents,

SEP 19 MGEX Wheat is at $5.04 3/4, down 1 1/2 cents

--- provided by Brugler Marketing & Management

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