# Wheat Cautiously Firmer into New Week - IBest Media

> Chicago wheat fell 17 to 18.5 cents on March 1 after a double-digit selloff, leaving May SRW down 15 cents for the week. KC wheat closed down 3.2% to 3.9% and spring wheat fell 3 cents on the week. Managed money cut its SRW net short by 12k contracts to 56k.

- Date: 2024-03-04 · published 2024-03-04T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/7303-wheat-cautiously-firmer-into-new-week-ibest-media
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Fund short covering can support prices in the near term, but the weekly losses reflect weak fundamentals. Position data shows speculative positioning adjusting to the downtrend.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2024-03-04 | 1 | +4.2% | 4.3 | After a heavy selloff on March 1 and a reduced managed money net short, wheat was cautiously firmer into March 4, pointing to short covering and a technical rebound. |

## Sources

- ibestmedia.com: https://www.ibestmedia.com/post/13196.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.