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The wheat market showed strength on October 30, 2023, with CBT soft red wheat futures rising by 9 to 10 cents, KC HRW futures increasing by 7 to 10 cents, and MPLS spring wheat futures gaining 4 to 6 cents.
This morning’s Export Inspections report indicated that 350,293 MT (12.87 mbu) of wheat were shipped, marking a 30.02% increase from the previous week and 60.96% from the same week last year, with Mexico being the largest buyer at 61,922 MT. The total for the marketing year reached 11.825 MMT (434.4 mbu), up 20.51% year-over-year.
On the futures market, Dec 25 CBOT Wheat closed at $5.43 1/2, up 9 1/2 cents; Mar 26 CBOT Wheat closed at $5.57 1/2, up 9 cents; Dec 25 KCBT Wheat closed at $5.31 3/4, up 7 1/4 cents; and Dec 25 MGEX Wheat closed at $5.59 1/2, up 5 1/2 cents.
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