The wheat complex is holding higher across most contracts on Monday. Chicago SRW futures are up 1 to 2 cents so far on the day. KC HRW contracts are 2 to 3 cents higher on the session. Preliminary open interest showed net new selling on Friday, with CBT up 10,511 contracts and KC wheat up 7,094 contracts. MPLS spring wheat is showing fractionally mixed trade on the day. 

Export Inspections data pegged 268,375 MT (9.7 mbu) of wheat shipped in the week that ended on 10/17. That was down 28.4% from the week prior and 58.35% above the same week last year. Japan was the largest destination of 97,779 MT, with 50,847 MT to Mexico. Shipments in the marketing year have totaled 9.26 MMT (340 mbu), which is still up 33.75% from the same time last year. 

CFTC data showed CBT wheat managed money spec funds trimming 3,436 contracts from their net short to 26,013 contracts as of October 15. In KC wheat, they increased their net short by 604 contracts to 6,488 contracts as of Tuesday.

Dec 24 CBOT Wheat  is at $5.73 3/4, up 1 cent,

Mar 25 CBOT Wheat  is at $5.93 3/4, up 1 1/4 cents,

Dec 24 KCBT Wheat  is at $5.83 1/2, up 2 3/4 cents,

Mar 25 KCBT Wheat  is at $5.98 1/2, up 2 3/4 cents,

Dec 24 MGEX Wheat  is at $6.16 1/4, down 1/4 cent,

Mar 25 MGEX Wheat  is at $6.38 1/4, up 1/4 cent,