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Barchart
Barchart
Austin Schroeder

BIZARRE: Wheat showing monday pop higher - You Need To See This

KC HRW MPLS KCBT

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.

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