The wheat complex was mostly lower on Monday, with some back months seeing strength at the close. CBT soft red wheat futures saw front months with fractional to 2 cent losses, as some deferreds were ¼ cent higher. KC HRW futures posted 1 ¾ to 2 ¾ cent losses in the nearby contracts. MPLS spring wheat futures saw steady trade to ½ cent losses at the close.
All federal offices are closed today (despite the shutdown) due to Columbus Day, which will push the Export Inspections released back to Tuesday. A Reuters survey of analysts is looking for the winter wheat crop to be near 66% planted, though there won’t be a Crop Progress report this week.
Saudi Arabia purchased 500,000 MT of wheat from abroad investors. Algeria also issued a tender for 50,000 MT of durum wheat, with a deadline of 10/15.
Dec 25 CBOT Wheat closed at $4.96 3/4, down 1 3/4 cents,
Mar 26 CBOT Wheat closed at $5.13 1/4, down 2 cents,
Dec 25 KCBT Wheat closed at $4.81 1/4, down 1 3/4 cents,
Mar 26 KCBT Wheat closed at $5.02 1/2, down 2 cents,
Dec 25 MGEX Wheat closed at $5.52 1/2, down 1/4 cent,
Mar 26 MGEX Wheat closed at $5.72 1/2, down 1/2 cent,
