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.
Wheat harvest in Argentina is estimated at 11.6% complete according to the Buenos Aires Gains exchange.
Dec 25 CBOT Wheat is at $5.35, up 7 1/4 cents,
Mar 26 CBOT Wheat is at $5.49 1/2, up 7 1/4 cents,
Dec 25 KCBT Wheat is at $5.25 1/2, up 6 1/4 cents,
Mar 26 KCBT Wheat is at $5.38, up 6 cents,
Dec 25 MGEX Wheat is at $5.59 1/4, up 1 1/4 cents,
Mar 26 MGEX Wheat is at $5.74, up 1 cent,
