FX.co ★ Speculators Trim Bearish Bets on U.S. Wheat as Net Shorts Narrow Sharply

Speculative positioning in U.S. wheat futures has turned noticeably less bearish, with the latest CFTC data showing a significant reduction in net short bets. According to figures updated on 28 August 2026, speculative net positions in wheat have improved from -18.8K contracts previously to -6.8K contracts.

The shift indicates that traders have substantially covered short positions or added to longs, easing the strongly negative sentiment that had dominated the market. While speculators remain net short overall, the sharp narrowing of positions suggests growing caution about further downside in wheat prices and hints at a possible reassessment of supply, demand, or risk conditions in the U.S. wheat market.