FX.co ★ Speculators Trim Bearish Wheat Bets as CFTC Net Shorts Narrow in Late July

Speculative traders in U.S. wheat futures scaled back their bearish positions, with CFTC wheat speculative net positions improving from -7.0K to -2.0K, according to data updated on 31 July 2026. The move indicates that net short exposure among speculators has eased, suggesting reduced pessimism toward the U.S. wheat market compared with the previous reporting period.

While positions remain in negative territory, the sharp narrowing of net shorts points to a shift in sentiment, as some traders appear to be closing short positions or cautiously re-entering on the long side. Market participants will be watching upcoming supply, demand, and weather developments closely to see whether this adjustment marks the start of a more sustained repositioning in U.S. wheat futures.