The wheat complex is posting gains across most contracts on Tuesday. CBT soft red wheat futures are 4 to 5 cents higher so far. KC HRW futures are in rally mode, up 7 to 8 cents on Tuesday MPLS spring wheat futures are up 2 to 3 cents across the front months at midday.
This morning’s Export Inspections report showed a total of 444,138 MT (16.32 mbu) of wheat shipped in the week of 10/9. That was 18.99% below the week prior but up 16.85% from the same week last year. Indonesia was the largest buyer of 77,936 MT, with 70,338 MT shipped to Japan and 68,856 MT to Mexico. The marketing year total is now at 10.665 MMT (391.852 mbu) of wheat shipped, which is now 18.11% above the same period last year.
