Wheat is showing most contracts within a penny of unchanged on Tuesday morning, as the winter wheat contracts are higher The wheat complex saw losses to kick off the new week. CBT soft red wheat futures were down 2 to 3 cents at the Monday close. Preliminary open interest was up 4,303 contracts on Monday. KC HRW futures saw 1 to 2 losses in most contracts. MPLS spring wheat futures were down 3 to 4 cents in the front months.

USDA tallied wheat export shipments at 505,096 MT (18.56 mbu) during the week ending on October 2. That was 42.18% below the week prior but 38.46% above the same week last year. South Korea was the top destination of 177,333 MT, with 60,875 MT headed to Japan and 54,989 to Malaysia. Marketing year exports for 2025/26 are now 10.177 MMT (373.95 mbu) since June 1, which is now 16.67% above the same period last year.

With the government offline, Crop Progress data was not released, as the trade was looking for winter wheat to be near the 50% planted mark as of Sunday. 

Saudi Arabia purchased an estimated 455,000 MT of wheat in their tender that closed on Friday, with results reported on Monday. 

Dec 25 CBOT Wheat  closed at $5.12 3/4, down 2 1/2 cents, currently up 3/4 cent

Mar 26 CBOT Wheat  closed at $5.30 1/4, down 2 1/4 cents, currently up 1/4 cent

Dec 25 KCBT Wheat  closed at $4.95 1/2, down 1 1/2 cents, currently up 1 cent

Mar 26 KCBT Wheat  closed at $5.17, down 1 1/2 cents, currently up 1/4 cent

Dec 25 MGEX Wheat  closed at $5.57 1/2, down 3 1/4 cents, currently down 1/2 cent

Mar 26 MGEX Wheat  closed at $5.76 1/4, down 3 1/4 cents, currently down 1/4 cent