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On Monday, October 2, 2023, the wheat complex experienced losses, with CBOT soft red wheat futures down 2 to 3 cents, KC HRW futures down 1 to 2 cents, and MPLS spring wheat futures down 3 to 4 cents. USDA reported wheat export shipments at 505,096 metric tons (18.56 million bushels), marking a 42.18% decrease from the previous week but a 38.46% increase compared to the same week last year.
South Korea was the leading destination for U.S. wheat, receiving 177,333 metric tons, while Japan imported 60,875 metric tons and Malaysia 54,989 metric tons. Marketing year exports for 2025/26, since June 1, total 10.177 million metric tons (373.95 million bushels), which is 16.67% higher than the same period last year. Saudi Arabia also purchased approximately 455,000 metric tons of wheat in a tender that closed last Friday.
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