The wheat complex is showing weakness persisting on Monday, with losses across the three exchanges. Chicago SRW contracts are 4 to 5 cents in the red at midday. KC HRW futures are down 4 to 5 cents on Monday. MPLS spring wheat are 5 to 6 cents lower at the midday part of the session on Monday.
Monday morning’s Export Inspections report showed wheat shipments of 240,308 MT (8.83 mbu) in the week of 10/15. That was down 21.83% from the week prior and 51.3% below the same week last year. Vietnam was the largest destination of 74,724 MT, with 38,500 MT shipped to Egypt and 37,885 MT headed to Colombia. The marketing year total is now 7.219 MMT (265.28 mbu) of shipments, which is now 64.43% below the same period last year.
