Market Performance - The wheat market experienced losses across all three markets, with CBT soft red wheat futures closing down 6 to 7 ¼ cents, and December futures down 2 ¾ cents for the week [1] - KC HRW futures also saw declines of 6 to 7 cents, with December ending the week down 1 ¾ cents [1] - MPLS spring wheat futures posted losses of 5 to 6 cents, although December managed a slight gain of ¼ cent since last Friday [1] Speculative Positions - Speculative traders in Chicago wheat futures and options increased their net short position by 12,110 contracts, bringing the total to 97,935 contracts as of September 23 [2] - In Kansas City wheat, managed money reduced their net short position by 1,230 contracts to 50,304 contracts as of the same date [2] Export Commitments - The USDA Export Sales report indicated export sale commitments at 13.699 million metric tons (MMT), which is a 23% increase from the previous year and the highest level since 2013/14 [3] - This figure represents 56% of the USDA's export projection and is ahead of the 5-year average pace of 54% [3] Stock Estimates - Analysts anticipate that the USDA's Grain Stocks report will show wheat stocks on hand at 2.054 billion bushels (bbu) as of September 1, with estimates ranging from 1.975 to 2.22 bbu [3] Russian Wheat Exports - Sovecon estimates Russian wheat exports at 43.4 MMT, a decrease of 0.3 MMT from the previous estimate [4] Closing Prices - Closing prices for various wheat futures on December 25 and March 26 showed declines, with CBOT Wheat at $5.19 3/4 (down 7 1/4 cents) and KCBT Wheat at $5.05 1/2 (down 6 3/4 cents) [4]

Group 1 - The wheat complex is experiencing a decline, with soft red wheat futures down 10 to 11 cents, Kansas City HRW futures down 4 to 5 cents, and MPLS spring wheat futures down 2 to 3 cents [1] - The Export Inspections report indicates a total of 854,454 MT of wheat shipped in the week of September 18, which is 12.96% higher than the previous week and 17.92% larger than the same week last year [2] - The Philippines was the largest buyer of wheat, importing 131,998 MT, followed by Mexico with 117,247 MT and Vietnam with 67,340 MT [2] Group 2 - The Commitment of Traders report shows that spec funds in Chicago wheat futures and options reduced their net short position by 6,569 contracts, totaling 85,825 contracts [3] - In Kansas City wheat futures and options, the net short position was trimmed by 1,491 contracts, bringing the total to 51,534 contracts as of September 16 [3] - Current prices for December 25 CBOT Wheat are at $5.11 1/2, down 11 cents, while March 26 CBOT Wheat is at $5.30 1/4, down 10 1/2 cents [3]

Group 1 - Wheat prices are experiencing a decline across winter wheat contracts, while spring wheat remains higher [1] - The wheat complex saw losses on Friday, with CBT soft red wheat futures down by 1 to 2 cents, and KC HRW futures down by 2 to 3 cents, resulting in a weekly loss of 7.5 cents for December [1] - The US dollar index increased by $0.334 to $97.305, adding pressure to commodity prices [1] Group 2 - The 7-day weather forecast predicts 1-3 inches of rain in the eastern Central Plain, extending to the Appalachian range [2] - The Commitment of Traders report indicated that spec funds reduced their net short position in Chicago wheat futures by 6,569 contracts, totaling 85,825 contracts, and in Kansas City wheat futures by 1,491 contracts, totaling 51,534 contracts as of September 16 [2] Group 3 - The weekly Export Sales report showed accumulated wheat sales at 13.156 million metric tons (MMT), which is 20% larger than last year and a 5-year high for that week, representing 54% of the USDA wheat export projection [3] - Closing prices for various wheat futures on December 25 showed declines, with CBOT Wheat down 1.75 cents to $5.22 1/2 and KCBT Wheat down 2.75 cents to $5.07 1/4 [3]