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The wheat complex experienced a mostly lower trend on October 9, 2023, with Chicago Board of Trade (CBOT) soft red wheat futures seeing slight losses, closing at $4.96 3/4, down 1 3/4 cents for December and $5.13 1/4, down 2 cents for March. Kansas City Hard Red Winter (HRW) futures ended at $4.81 1/4, down 1 3/4 cents, while Minneapolis Grain Exchange (MGEX) spring wheat futures closed at $5.52 1/2, down 1/4 cent.
All federal offices were closed for Columbus Day, causing the Export Inspections report release to be pushed to Tuesday. A Reuters survey indicates that approximately 66% of the winter wheat crop is expected to be planted. Additionally, Saudi Arabia has purchased 500,000 MT of wheat, while Algeria issued a tender for 50,000 MT of durum wheat with a submission deadline of October 15.
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