Speculative traders in U.S. wheat futures have reduced their bearish exposure, with net short positions narrowing in the latest reporting period. According to data updated on 06 February 2026, the CFTC Wheat speculative net positions rose to -65.5K from a previous level of -79.4K.
The shift indicates that while speculative positioning in wheat remains net short, some market participants have been scaling back their pessimistic bets. A reduction of nearly 14,000 contracts in net shorts may suggest improving sentiment toward wheat or profit-taking after an extended period of negative positioning. Investors will now be watching upcoming supply, demand, and weather developments to see whether this move marks the start of a broader repositioning in the wheat market.
