The wheat complex was mixed on Monday, as KC was on the selling end of some interclass spreading. CBT soft red wheat futures were on the buying side, up 1 to 2 cents. KC HRW futures were 1 to 2 cents lower on Monday. MPLS spring wheat futures were steady across the front months at the close.
Export Inspections data showed 480,614 MT (17.66 mbu) of wheat shipped in the week that ended on October 16, which was an increase of 7.39% from the week prior and 77.63% above the same week last year. Nigeria was the top destination of 97,809 MT, with 67,377 MT to Thailand and 63,333 MT to South Korea. Marketing year shipments have totaled 11.193 MMT (341.713 mbu), a 20.35% increase yr/yr.
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Portions of the Southern Plains in KS and the eastern half of OK, stretching to the Mississippi River are expected to receive 1 to 3 inches of rain in the next week. Lighter totals are seen in the rest of the Plains.
Algeria is tendering for 50,000 MT of soft wheat, with a deadline of Wednesday on offers.
Dec 25 CBOT Wheat closed at $5.04 3/4, up 1 cent,
Mar 26 CBOT Wheat closed at $5.21 1/2, up 1 1/4 cents,
Dec 25 KCBT Wheat closed at $4.90, down 1 1/2 cents,
Mar 26 KCBT Wheat closed at $5.09 1/2, down 1 1/2 cents,
Dec 25 MGEX Wheat closed at $5.49 1/2, unch,
Mar 26 MGEX Wheat closed at $5.69 1/2, unch,
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