The wheat complex is falling back at midday. CBT soft red wheat futures are down 7 to 8 cents so far. KC HRW futures are 9 to 10 cents in the red at midday. MPLS spring wheat futures are down 4 to 5 cents across most contracts on Thursday.
There is likely a little sell the fact type of reaction within the market following the Trump/Xi meeting in South Korea on Wednesday evening. Nothing on wheat specific was mentioned, other than the tariffs being lifted.
Despite the lack of USDA data release, the trade is looking for wheat export business during the week of October 23 to have totaled 350,000 to 600,000 MT.
South Korea mill importers tendered for 40,300 MT of wheat with a Friday deadline.
Dec 25 CBOT Wheat is at $5.24 3/4, down 7 1/2 cents,
Mar 26 CBOT Wheat is at $5.40 3/4, down 7 cents,
Dec 25 KCBT Wheat is at $5.13, down 9 3/4 cents,
Mar 26 KCBT Wheat is at $5.28 1/4, down 9 3/4 cents,
Dec 25 MGEX Wheat is at $5.55 3/4, down 4 3/4 cents,
Mar 26 MGEX Wheat is at $5.76, down 4 cents,
