The wheat complex posted early week strength on Monday. CBT soft red wheat saw trade close 13 to 14 cents in the green on Monday. KC HRW futures posted gains of 12 to 14 cents to close out Monday. MPLS spring wheat futures were up 3 to 5 cents across most contracts on Monday, backing off the overnight strength.
USDA tallied wheat export shipments at 258,543 MT (9.5 mbu) during the week ending on October 23. That was 47.61% below the week prior and 12.26% shy of the same week last year. South Korea was the top destination of 109,639 MT, with 46,079 MT headed to Vietnam and 33,899 MT to Japan. Marketing year exports for 2025/26 are now 11.463 MMT (421.2 mbu) since June 1, which is now 19.4% above the same period last year.
US and Chinese negotiators had constructive discussions over the weekend in Malaysia, come out with a framework for President Trump and China’s President Xi to discuss this Thursday. Nothing specific on wheat was mentioned, but the two sides coming together is seen as friendly.
Dec 25 CBOT Wheat closed at $5.26, up 13 1/2 cents,
Mar 26 CBOT Wheat closed at $5.42, up 14 cents,
Dec 25 KCBT Wheat closed at $5.14 1/4, up 12 3/4 cents,
Mar 26 KCBT Wheat closed at $5.32, up 13 3/4 cents,
Dec 25 MGEX Wheat closed at $5.60 1/4, up 3 1/4 cents,
Mar 26 MGEX Wheat closed at $5.79 1/4, up 4 1/2 cents,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
