Futures are 1 to 2 cents lower this morning in the Chicago and KC contracts, but up about the same in Minneapolis spring wheat. MPLS wheat futures showed the biggest decrease when Friday’s 9 cent drop pushed the week/week loss to 15 cents. Chicago Dec showed a 5 cent loss on Friday and a 7 1/2 cent loss on the week, and KC Dec futures 5 1/2 loss on Friday ensured a weekly loss of 5 cents. CFTC reported that managed money reversed their Chicago wheat position from a 654 contract short to a 391 contract long as of 11/12. Kansas City wheat futures have a net short by managed money spec funds, to the tune of 22,689 contracts. They were more bearish the week before. The USDA weekly export sales number for the week ending 11/07 was 238,620 MT. Unshipped wheat sales are 25.9% below the same week last year. The USDA reported 453,591 MT of wheat shipments for the same week, pushing the MY accumulated shipments to 11.219 MMT (26.87% above last year’s pace). HRW made up 18.47% of the weekly shipments, down from 38% the previous week. SRW, with a 391% increase wk/wk, made up a 13.71% share of weekly exports for the week ending 11/07. Similarly white wheat saw 268.79% wk/wk increase in shipments, white wheat weekly exports occupied a 33.39% share of all wheat weekly exports. HRS wheat maintains a steady 26.77% share of accumulated wheat exports.

-- provided by Brugler Marketing & Management