Speculative traders have significantly reduced their bearish exposure to U.S. wheat, according to the latest Commitments of Traders data from the Commodity Futures Trading Commission (CFTC). As of the update on 24 July 2026, net speculative positions in wheat futures improved to -7.0K, from a previous level of -16.3K.
The shift reflects a notable narrowing of net short positions, suggesting that some traders are scaling back expectations for further price declines or beginning to position for a more balanced market. While sentiment among speculators remains modestly negative overall, the reduced net short stance points to easing downside pressure in the U.S. wheat market.
