Wheat futures saw gains of 2 to 4 cents in most CBT and KC contracts on Friday, as MPLS was up 3 to 8 1/4 cents. Managed Money backed off their net short position in CBT wheat futures and options by another 8,224 contract to -56,475 contracts last week. In KC wheat futures and options, they lowered their CFTC net long position 1,950 contracts to 9,468 contracts. The EU approved 185,000 MT of wheat export licenses, bringing their total for the marketing year to 4.728 MMT vs 7.314 MMT last year at this time.
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