Money managers reduced their net short position in CBOT wheat futures and options by over 20,000 contracts to 90,442 in the week ending February 4, according to the Reuters report.

That is the sixth-largest all-time behind five weeks in April and May 2019. Soybean meal was the only major CBOT grain or oilseed to notch losses in the week ended Jan 23, falling nearly 3%.