The wheat complex facing losses on Monday. Chicago SRW contracts are posting losses of 7 to 8 ½ cents on the day. KC HRW futures are showing losses of 5 to 6 cents on Monday. MPLS spring wheat is trading with losses of 7 to 8 cents at midday.
Monday morning’s Export Inspections report showed wheat shipments of 183,824 MT (6.75 mbu) in the week of 10/22. That was down 27.89% from the week prior and 31.87% below the same week last year. Mexico was the largest destination of 71,329 MT, with 61,021 MT shipped to Vietnam and 33,024 MT headed to South Korea. The marketing year total is now 7.419 MMT (272.59 mbu) of shipments, which is now 35.35% below the same period last year.
