Wheat Futures Prices Decline Amid Profit-Taking and Weak Exports

Wheat futures prices declined on Monday as profit-taking and weak exports weighed on the market.

The Chicago SRW contracts finished the previous session 12 to 18 1/4 cents lower in the front months, with September ending the week 4 3/4 cents below its prior Friday close.

Kansas City HRW futures declined 10 to 14 7/4 cents in nearby contracts on the day, while Minneapolis spring wheat contracts fell 10 to 15 7/4 cents.

The managed money cut its net short position in CBT wheat futures and options by 17,449 contracts, bringing it down to 19,349 contracts.