Wheat is showing steady to slightly higher trade so far on Monday. The wheat complex headed into the weekend holding onto the weakness on Friday. Chicago SRW contracts fell lower on Friday, with contracts down 1 ½ to 9 ½ cents on the day and December losing 10 ½ cents last week. Open interest was up 7,845 contracts on Monday, suggesting new selling. KC HRW futures slipped back 3 to 9 cents at the close, as the lead December contracts was down 15 ¼ cents from last Friday. OI was just 472 contracts higher. MPLS spring wheat was down 5 ¼ to 9 ¾ cents on Friday, with December losing 18 ¾ cents on the week.
USDA’s Export Sales report from Friday showed 319,901 MT of wheat sold in the week of October 8. That was down 29.16% from a week ago and 47.89% below the same week last year. The top buyer was Taiwan at 105,800 MT, with 68,100 MT sold to Sri Lanka and 52,300 MT to Mexico.
