The wheat complex is trading with gains on Monday. Chicago SRW contracts are 12 to 13 cents higher at midday. KC HRW futures are 11 to 12 cents in the green on the day. MPLS spring wheat is 8 to 9 cents higher so far on Monday.
The weekly Export Inspections report showed wheat shipments of 335,313 MT (12.32 mbu) in the week of 7/30. That was a 19.68% drop from the week prior less than half of the same week last year. South Korea was the largest destination of 90,198 MT, with 68,166 MT shipped to Thailand and 57,815 MT to the Philippines. Shipments for the marketing year are now at 2.907 MMT (106.8 mbu) of wheat, which is 27.36% below the same period last year.
