The wheat complex is mostly weaker on Monday, with spring wheat trying to tick higher. CBT soft red wheat futures are showing slight fractional losses to start the week. KC HRW futures are 2 to 3 cents lower so far on Monday. MPLS spring wheat futures are fractionally higher at midday.
Export Inspections data showed 480,614 MT (17.66 mbu) of wheat shipped in the week that ended on October 16, which was an increase of 7.39% from the week prior and 77.63% above the same week last year. Nigeria was the top destination of 97,809 MT, with 67,377 MT to Thailand and 63,333 MT to South Korea. Marketing year shipments have totaled 11.193 MMT (341.713 mbu), a 20.35% increase yr/yr.
Portions of the Southern Plains in KS and the eastern half of OK, stretching to the Mississippi River are expected to receive 1 to 3 inches of rain in the next week.
Algeria is tendering for 50,000 MT of soft wheat, with a deadline of Wednesday on offers.
Dec 25 CBOT Wheat is at $5.03 1/4, down 1/2 cent,
Mar 26 CBOT Wheat is at $5.20, down 1/4 cent,
Dec 25 KCBT Wheat is at $4.89, down 2 1/2 cents,
Mar 26 KCBT Wheat is at $5.08 1/2, down 2 1/2 cents,
Dec 25 MGEX Wheat is at $5.49, up 1/2 cent,
Mar 26 MGEX Wheat is at $5.69, up 1/2 cent,
