The wheat complex are easing lower to start the week on Monday. Chicago SRW contracts are 2 to 3 ½ cents lower at midday. KC HRW futures are down 5 to 6 cents. MPLS spring wheat is showing 5 to 8 cent losses in the front months. September futures expire today.
The weekly Export Inspections report showed wheat shipments of 456,720 MT (16.78 mbu) in the week of 9/10. That was 5.9% below the week prior and 39.78% below the same week last year. Japan was the largest destination of 118,788 MT, with 111,415 MT shipped to Mexico and 93,003 MT to Thailand. Shipments for the marketing year are now 5.676 MMT (208.54 mbu) of wheat, which is 27.78% below the same period last year.
