Wheat is showing some weakness on Tuesday AM trade, with winter wheat weakness. The wheat complex was mostly lower on Monday. Chicago SRW futures were fractionally to 4 cents in the red on Monday. Open interest was up 4,768 contracts. KC HRW futures were fractionally lower in the nearbys. OI was up 2,722 contracts. MPLS spring wheat was mixed, as December was up ¾ and other contracts were down 2 to 3 cents. There were no deliveries issued against December CBT wheat overnight, with another 7 against December KC wheat.
National Crop Progress data is done for the year, but some individual states are still putting reports out. Kansas winter wheat ratings were up 4% to 66% gd/ex, with the Brugler500 index up 2 points to 366
Export Inspections data showed wheat at just 384,881 MT (14.14 mbu) shipped in the week that ended on November 27. That was a drop of 19.89% from the week prior and up 28.89% from same week last year. Vietnam was the top destination of 58,864 MT, with 51,792 MT to Mexico. Marketing year shipments have totaled just 13.228 MMT (486 mbu), a 19.95% increase yr/yr.
Delayed Export Sales data for the week of October 23 was released on Monday, with a total of 499,778 MT of wheat sold. That was also up 46.43% from last week and 21.48% above the same week last year.
Algeria has issued a tender for 50,000 MT of soft milling wheat with a Wednesday deadline. A South Korean importer purchased a total of 65,000 MT of wheat in a tender overnight.
Dec 25 CBOT Wheat closed at $5.30 1/4, down 3/4 cent, currently down 1 cent
Mar 26 CBOT Wheat closed at $5.35, down 3 1/2 cents, currently down 4 1/2 cents
Dec 25 KCBT Wheat closed at $5.17, down 3/4 cent, currently down 4 3/4 cents
Mar 26 KCBT Wheat closed at $5.26 3/4, down 3/4 cent, currently down 5 1/4 cents
Dec 25 MGEX Wheat closed at $5.80, up 3/4 cent, currently up ¼ cent
Mar 26 MGEX Wheat closed at $5.76, down 2 cents, currently up ¾ cent
