The wheat complex is higher across the three markets at midday. CBT soft red wheat futures are up another 8 to 10 cents. KC HRW futures are 6 to 9 cents in the green at midday. MPLS spring wheat futures are trading with 2 to 4 cent midday gains.
This morning’s Export Inspections report showed a total of 350,293 MT (12.87 mbu) of wheat shipped in the week of 10/30. That was 30.02% above the week prior and 60.96% above the same week last year. Mexico was the largest buyer of 61,922 MT, with 57,564 MT shipped to the Philippines and 54,999 MT to South Korea. The marketing year total is now 11.825 MMT (434.4 mbu) of wheat shipped, which is now 20.51% above the same period last year.
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A report from Bloomberg shows that China is looking to buy wheat from the US.
SovEcon estimates the Russian wheat crop at 87.8 MMT for 2025/26.
Dec 25 CBOT Wheat is at $5.43 1/4, up 9 1/4 cents,
Mar 26 CBOT Wheat is at $5.57, up 8 1/2 cents,
Dec 25 KCBT Wheat is at $5.31 1/4, up 6 3/4 cents,
Mar 26 KCBT Wheat is at $5.45 1/4, up 8 1/2 cents,
Dec 25 MGEX Wheat is at $5.56 1/2, up 3 1/2 cents,
Mar 26 MGEX Wheat is at $5.75, up 2 cents,
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