The wheat market is rallying back higher at midday following a White House fact sheet release over the weekend. Chicago SRW futures are 25 to 27 cents higher so far on the day. KC HRW futures are 14 to 15 cents in the green at midday. MPLS spring wheat is up 17 to 19 cents on the day.
Export Inspections data showed wheat at 223,972 MT (8.23 mbu) shipped in the week that ended on May 14. That was down 56.23% from last week and a 48.08% drop from the same week last year. The Philippines was the top destination of 65,999 MT, with 65,465MT to Mexico and 34,808 MT to Japan. Marketing year shipments have totaled 23.099 MMT (848.73 mbu), which is up 11.32% yr/yr.
