Wheat Posting Midday Losses

Market Overview - The wheat complex is experiencing a decline, with Chicago SRW futures down by 3 to 4 cents on the day [1] - KC HRW futures increased by 7 to 8 cents on Friday, while MPLS spring wheat contracts are trading 2 to 3 cents lower [1] Export Data - Wheat shipments for the week ending February 19 totaled 535,113 MT (19.66 million bushels), marking a 41.57% increase from the previous week and a 37.37% rise compared to the same week last year [2] - The Philippines was the leading destination for wheat exports at 89,227 MT, followed by Nigeria at 67,932 MT and Bangladesh at 62,144 MT [2] - Cumulative marketing year shipments have reached 18.24 MMT (670.33 million bushels), reflecting a year-over-year increase of 19.41% [2] Speculative Positions - Commitment of Traders data indicates that speculative funds reduced their net short position in Chicago wheat by 17,618 contracts, bringing the total to 68,037 contracts [3] - In KC wheat, spec funds trimmed their net short position by 8,887 contracts, resulting in a total of 10,609 contracts [3] Current Prices - As of the publication date, the following wheat futures prices were noted: - Mar 26 CBOT Wheat at $5.72 3/4, down 3/4 cent - May 26 CBOT Wheat at $5.77, down 3 1/4 cents - Mar 26 KCBT Wheat at $5.65 1/4, down 7 cents - May 26 KCBT Wheat at $5.77 1/4, down 8 cents - Mar 26 MIAX Wheat at $5.84 1/4, down 3 cents - May 26 MIAX Wheat at $5.98, down 2 cents [3]