Wheat Futures Slide as Export Inspections Show Decline

The wheat market is showing weakness on Monday, with Chicago SRW contracts down 2 to 3 ½ cents at midday. KC HRW futures are also lower, trading 5 to 6 cents below previous levels.

The MPLS spring wheat is experiencing losses in the front months, ranging from 5 to 8 cents.

Export inspections for the week of September 10 showed a decline in wheat shipments, with 456,720 MT (16.78 mbu) shipped, which is 5.9% below the previous week and 39.78% below the same period last year.

Japan was the largest destination for wheat exports, receiving 118,788 MT, followed by Mexico at 111,415 MT and Thailand with 93,003 MT.