The wheat complex is showing gains on Monday to take back some of the Friday weakness. CBT soft red wheat futures are up 7 to 8 cents on the day. KC HRW futures is showing 6 to 7 cent gains across most contracts on Monday. MPLS spring wheat futures are up 1 to 2 cents at midday.
Export Inspections data showed 290,513 MT (10.67 mbu) of wheat shipped in the week that ended on November 6, which was a drop of 17.07% from the week prior and 17.91% below the same week last year. Mexico was the top destination of 70,352 MT, with 62,882 MT to the Philippines. Marketing year shipments have totaled 12.115 MMT (445.2 mbu), a 19.18% increase yr/yr.
Wheat harvest in Argentina is estimated at 11.6% complete according to the Buenos Aires Gains exchange.
Dec 25 CBOT Wheat is at $5.35, up 7 1/4 cents,
Mar 26 CBOT Wheat is at $5.49 1/2, up 7 1/4 cents,
Dec 25 KCBT Wheat is at $5.25 1/2, up 6 1/4 cents,
Mar 26 KCBT Wheat is at $5.38, up 6 cents,
Dec 25 MGEX Wheat is at $5.59 1/4, up 1 1/4 cents,
Mar 26 MGEX Wheat is at $5.74, up 1 cent,
On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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