The wheat complex is falling back with the rest of the commodity complex on Monday. Chicago SRW contracts are 15 to 16 cents in the red. KC HRW futures are trading with 14 cent front month losses on the day. MPLS spring wheat is slipping 7 to 8 ¼ cents at midday.
Monday morning’s Export Inspections report showed wheat shipments of 394,785 MT (14.51 mbu) in the week of 7/23. That was up 71.82% from the week prior and 36.01% above the same week last year. Bangladesh was the largest destination of 58,341 MT, with 56,444 MT shipped to Japan and 54,407 MT to Mexico. The marketing year total is now 2.543 MMT (93.4 mbu) of shipments, which is now 23.21% below the same period last year.
