The wheat complex is shooting higher so far on Monday. CBT soft red wheat is trading with 17 cent nearby gains at the midday portion of Monday trade. KC HRW futures are trading with midday gains of 16 to 17 cents on Monday. MPLS spring wheat futures are up 7 to 9 cents so far at midday
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 is at $5.29 1/2, up 17 cents,
Mar 26 CBOT Wheat is at $5.45, up 17 cents,
Dec 25 KCBT Wheat is at $5.18, up 16 1/2 cents,
Mar 26 KCBT Wheat is at $5.34 3/4, up 16 1/2 cents,
Dec 25 MGEX Wheat is at $5.64 1/2, up 7 1/2 cents,
Mar 26 MGEX Wheat is at $5.83 1/2, up 8 3/4 cents,
