Wheat futures were lower on Friday, with CBT and MPLS down 5 to 10 cents and KC 11-12 cents in the red. All wheat export commitments are now 12.3% lower than the same time last year, with actual shipments now 6.4% behind. The USDA raised the average farm price a nickel on each end to $4.60-$4.70, with the mid-point also up 5 cents to $4.65. Russia’s wheat exports were increased 1.5 MMT to 37.5 MMT. Spec funds in CBT wheat futures and options lowered their net short position by 28,101 contracts for the week that ended 3/6 to a net position of -32,531 contracts.
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