Speculative traders have significantly reduced their bearish exposure to U.S. wheat, according to the latest CFTC data released on 17 July 2026. Net speculative positions in wheat futures improved to -16.3K contracts, a sharp move from the previous level of -49.7K contracts.
The shift indicates a substantial narrowing of net short positions, suggesting that market participants are becoming less pessimistic about the outlook for U.S. wheat prices. While speculative sentiment remains in negative territory, the scale of short-covering points to changing expectations around future supply-demand dynamics and price risk in the wheat market.
