The wheat complex is holding onto the early gains are midday. Chicago SRW contracts are posting 7 to 8 cent gains on the session. KC HRW futures are 5 to 6 cents higher at Monday’s midday. MPLS spring wheat is trading with 6 to 9 cents higher so far on Monday.
Monday morning’s Export Inspections report showed wheat shipments of 302,356 MT (11.11 mbu) in the week of 10/1. That was down 10.29% from the week prior and 48.95% below the same week last year. The Philippines was the largest destination of 63,280 MT, with 59,056 MT shipped to Bangladesh and 51,448 MT headed to Taiwan. The marketing year total is now 6.672 MMT (245.14 mbu) of shipments, which is now 35% below the same period last year.
