The wheat complex is down on Monday, with Chicago SRW futures falling 3 to 4 cents. KC HRW futures are 7 to 8 cents higher. MPLS spring wheat contracts are 2 to 3 cents lower. Export Inspections data shows 535,113 MT of wheat shipped, up 41.57% from the previous week. The Philippines was the top destination.

Spec funds reduced their net short position in Chicago and KC wheat contracts. Mar 26 CBOT Wheat is at $5.72 3/4, down 3/4 cent. May 26 CBOT Wheat is at $5.77, down 3 1/4 cents. Mar 26 KCBT Wheat is at $5.65 1/4, down 7 cents. May 26 KCBT Wheat is at $5.77 1/4, down 8 cents.

Overall, wheat is posting midday losses. Mar 26 MIAX Wheat is at $5.84 1/4, down 3 cents. May 26 MIAX Wheat is at $5.98, down 2 cents. Commitment of Traders data shows spec funds reducing their net short positions in wheat contracts.

Read more at Yahoo Finance: Wheat Posting Midday Losses