Wheat is showing most contracts within a penny of unchanged on Tuesday morning, as the winter wheat contracts are higher The wheat complex saw losses to kick off the new week. CBT soft red wheat futures were down 2 to 3 cents at the Monday close. Preliminary open interest was up 4,303 contracts on Monday. KC HRW futures saw 1 to 2 losses in most contracts. MPLS spring wheat futures were down 3 to 4 cents in the front months.
USDA tallied wheat export shipments at 505,096 MT (18.56 mbu) during the week ending on October 2. That was 42.18% below the week prior but 38.46% above the same week last year. South Korea was the top destination of 177,333 MT, with 60,875 MT headed to Japan and 54,989 to Malaysia. Marketing year exports for 2025/26 are now 10.177 MMT (373.95 mbu) since June 1, which is now 16.67% above the same period last year.
