The wheat complex is showing mixed action on Monday, with KC the weakest. Chicago SRW futures are 6 to 7 cents higher at midday. KC HRW futures are down 2 to 3 cents reverting from some recent strength. MPLS spring wheat is 5 to 6 cents higher so far on Monday.
Monday morning’s Export Inspections report showed 364,219 MT (13.38 mbu) of wheat shipped in the week of 3/26. That was 20.73% above the week prior and 27.38% larger than the same week last year. Japan was the largest destination of 107,579 MT, with 90,290 MT shipped to Nigeria and 85,263 MT to Mexico. The marketing year total is now 20.295 MMT (745.72 mbu) of wheat shipped since June 1, which is 16.7% above the same period last year.
