The Hightower Report said, “Wheat was the only grain market late last week that showed signs of stabilizing after the recent decline of nearly $1.20. Open interest dropped over 10,500 contracts on Chicago wheat and over 11,000 in Kansas City on Friday, a potential indication the shorts were beginning to take profits with prices stretched to very oversold levels.” Amanda Brill at Total Farm Marketing said, “Friday’s CFTC report saw funds as sellers of Chicago wheat by 39,165 contracts which increased their net short position to 57,871 contracts. They sold 13,393 contracts of KC wheat leaving them with a net long position of 13,477 contracts.”