Wheat prices are 3 to 4 cents lower midday across US exchanges after a failed attempt to rally. CBT prices rose 12 to 13 cents on Friday, with KC contracts up 11 to 12 cents. CFTC data shows spec traders increasing net short positions.

Bangladesh signed an MOU to purchase 700,000 MT of US wheat annually for 5 years. Total US exports to Bangladesh in the last 5 years were 648,567 MT. USDA weekly export inspections report shows 732,290 MT inspected, up from previous weeks.

Sep 25 CBOT Wheat is at $5.42, down 4 1/4 cents. Dec 25 CBOT Wheat is at $5.63 1/4, down 3 3/4 cents. Sep 25 KCBT Wheat is at $5.26, down 3 cents. Dec 25 KCBT Wheat is at $5.49 1/2, down 2 cents. Sep 25 MGEX Wheat is at $5.90, down 5 1/2 cents. Dec 25 MGEX Wheat is at $6.11 3/4, down 4 3/4 cents.

Read more at Yahoo Finance: Monday Midday Price Quotes Mostly Lower for Wheat