The wheat complex is holding steady so far on Monday’s midday. Chicago SRW contracts are fractionally higher so far on Monday. KC HRW futures are showing modest 1 to 2 cent gains on the day. MPLS spring wheat is showing fractional to 2 cent losses at midday.
Monday’s weekly Export Inspections report showed wheat shipments of 493,401 MT (18.13 mbu) in the week of 8/13. That was a 1.54% increase from the week prior and 22.43% larger than the same week last year. Japan was the largest destination of 142,358 MT, with 114,636 MT shipped to Mexico and 75,437 MT to Indonesia. Shipments for the marketing year are now 3.89 MMT (142.9 mbu) of wheat, which is 19.29% below the same period last year.
