Speculators eased their bearish stance on U.S. wheat futures, with net short positions narrowing in the latest Commitments of Traders report from the Commodity Futures Trading Commission (CFTC). As of the update on 20 February 2026, speculative net positions in wheat improved to -55.1K contracts from a previous -71.3K.
The shift indicates that while the market remains net short, some traders are scaling back expectations for further downside in wheat prices. A reduction of more than 16,000 contracts in net shorts suggests either short covering or a cautious return of speculative interest on the long side, potentially reflecting changing views on supply, demand, or price prospects in the U.S. wheat market.\/body
