The wheat complex experienced a downturn as the new week began. At the close on Monday, CBT soft red wheat futures fell by 2 to 3 cents. Similarly, KC HRW futures recorded losses of 1 to 2 cents across most contracts, while MPLS spring wheat futures decreased by 3 to 4 cents in the front months.
According to the USDA, wheat export shipments totaled 505,096 MT (18.56 million bushels) for the week ending October 2. This figure represents a significant drop of 42.18% compared to the previous week, yet it is 38.46% higher than the same week last year. South Korea emerged as the leading destination, importing 177,333 MT, followed by Japan with 60,875 MT and Malaysia with 54,989 MT. For the marketing year 2025/26, exports since June 1 have reached 10.177 MMT (373.95 million bushels), marking a 16.67% increase over the same period last year.
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Due to the government being offline, the Crop Progress data was not released, which left the trade anticipating that winter wheat planting would be nearing the 50% mark as of Sunday.
In international markets, Saudi Arabia made headlines by purchasing an estimated 455,000 MT of wheat in a tender that closed on Friday, with results announced on Monday.
Dec 25 CBOT Wheat closed at $5.12 3/4, down 2 1/2 cents.
Mar 26 CBOT Wheat ended at $5.30 1/4, down 2 1/4 cents.
Dec 25 KCBT Wheat closed at $4.95 1/2, down 1 1/2 cents.
Mar 26 KCBT Wheat finished at $5.17, also down 1 1/2 cents.
Dec 25 MGEX Wheat closed at $5.57 1/2, down 3 1/4 cents.
Mar 26 MGEX Wheat ended at $5.76 1/4, down 3 1/4 cents.
On the date of publication,
Austin Schroeder
did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes.
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