Wheat Collapses Lower on Friday

The wheat complex faced pressure across the three markets on Friday. Chicago SRW futures were 12 to 13 1/2 cents lower, as May fell 18 ½ cents. KC HRW futures were 21 to 21 1/2 cents in the red at the close, with May down 23 ¾ for the week. MPLS spring wheat was down 10 ¾ to 15 3/4 cents in the front months, as May slipped back 17 ½ cents from last Friday. CFTC data from this afternoon showed a total of 9,643 contracts trimmed from the CBT wheat spec net short position as of Tuesday. A mix of new longs a ...