The wheat complex is trading with gains across the three exchanges on Monday. Chicago SRW futures are up 14 to 15 cents on the day. KC HRW is posting 13 to 14 cent gains at midday. MPLS spring wheat is 8 to 10 cents higher on Monday.
The weekly shipment data from the Export Inspections report tallied 711,073 MT of wheat exported in the week of 9/19. That was a sharp 20.77% from last week and 46.39% larger than the same week last year. Shipments were fairly spread out, with 86,349 MT to Ecuador, 69,363 MT to the Philippines, and 68,784 MT to South Korea. Marketing year shipments have totaled 7.684 MMT, which is 35.69% above the same period last year.
Friday afternoon’s Commitment of Traders report showed specs in Chicago wheat futures and options trimming back 4,364 contracts from their net short position as of Tuesday to 25,033 contracts. In KC wheat, they parred back 1,024 contracts from their net short to 17,486 contracts.
Dec 24 CBOT Wheat is at $5.83, up 14 1/2 cents,
Mar 25 CBOT Wheat is at $6.02 1/4, up 14 3/4 cents,
Dec 24 KCBT Wheat is at $5.77 3/4, up 13 3/4 cents,
Mar 25 KCBT Wheat is at $5.91 1/2, up 14 cents,
Dec 24 MGEX Wheat is at $6.17 1/2, up 9 1/2 cents,
Mar 25 MGEX Wheat is at $6.38 1/2, up 8 3/4 cents,
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