Wheat Weaker on Monday Morning

Market Overview - Wheat is experiencing losses across three markets on Monday morning, influenced by a $0.893 increase in the dollar index, which added pressure to prices [1] - Chicago SRW futures recorded losses of 3 to 4 ¼ cents, although March futures were up 8 ½ cents for the week [1] - KC HRW futures declined by 2 to 3 cents at the close, with March holding a 4 cent gain [1] - MPLS spring wheat also saw losses of 3 to 4 cents, while March was up 3 ¼ cents for the week [1] Commitment of Traders Data - Managed money in Chicago wheat futures and options reduced their net short position by 15,957 contracts, bringing the total to 94,743 contracts as of January 27 [2] - In KC wheat, spec traders decreased their net short position by 2,689 contracts, resulting in a total of 10,329 contracts [2] Export Sales and Commitments - Accumulated wheat sale commitments reached 21.595 million metric tons (MMT), which is 18% higher than the same week last year, representing 88% of the USDA's forecast and aligning with the 89% average pace [3] - Taiwan purchased a total of 106,350 metric tons of wheat from the US in a recent tender [3] Price Movements - On March 26, CBOT Wheat closed at $5.38, down 3 ½ cents, and is currently down 4 ¼ cents [3] - May 26 CBOT Wheat closed at $5.46, down 4 ¼ cents, and is currently down 4 ¼ cents [3] - March 26 KCBT Wheat closed at $5.44 ¾, down 2 ¼ cents, and is currently down 4 ¼ cents [3] - May 26 KCBT Wheat closed at $5.55, down 2 ¾ cents, and is currently down 4 ½ cents [3] - March 26 MIAX Wheat closed at $5.78 ¼, down 3 ¼ cents, and is currently down 4 ¾ cents [3] - May 26 MIAX Wheat closed at $5.92 ½, down 3 cents, and is currently down 5 cents [3]