Wheat futures showed strong gains of 8 to 10 3/4 cents in most CBT and KC contracts on Monday, as MGE was 3 to 4 cents higher. All wheat exports during the week of October 19 fell to just 6.237 mbu. That was slightly better than half of the previous week’s inspections and 36.25% lower than the same week last year. The USDA Crop Progress report showed the US winter wheat crop at 75% planted vs. the average of 80% for this date. It was also reported that 52% of the crop was emerged. Iraq purchased 50,000 MT of US wheat over the weekend.
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