The wheat complex is mixed on Monday, with Chicago holding higher. Chicago SRW contracts are holding higher, with contracts up 4 to 5 cents. KC HRW futures are fractionally lower across most front months. MPLS spring wheat is showing 1 to 3 cent losses so far at midday.
Monday’s weekly Export Inspections report showed wheat shipments of 425,668 MT (15.64 mbu) in the week of 8/20. That was a 17.24% decrease from the week prior and 59.35% below the same week last year. The Philippines was the largest destination of 117,217 MT, with 78,033 MT shipped to South Korea and 72,335 MT to Japan. Shipments for the marketing year are now 4.337 MMT (159.3 mbu) of wheat, which is 26.07% below the same period last year.
