The wheat complex is trading weaker on Tuesday, with Chicago SRW futures down 6 to 7 cents, KC HRW futures showing 3 to 4 cent losses, and MPLS spring wheat down 2 to 3 cents. USDA’s FGIS reported wheat export shipments at 392,661 MT, 23.48% higher than the previous week. Saudi Arabia bought 907,000 MT of wheat, while Algeria purchased an estimated 600,000 MT. European commission data showed 11.8 MMT of wheat exports from July 1 to January 15. CFTC data showed managed money trimming net shorts in CBT and KC wheat futures.

In terms of prices, Mar 26 CBOT Wheat is at $5.10 3/4, down 7 1/4 cents, May 26 CBOT Wheat is at $5.22, down 6 3/4 cents, Mar 26 KCBT Wheat is at $5.23 1/4, down 4 cents, and May 26 KCBT Wheat is at $5.34 1/2, down 3 3/4 cents. Mar 26 MIAX Wheat is at $5.62 1/4, down 2 3/4 cents, and May 26 MIAX Wheat is at $5.74 1/4, down 2 1/4 cents.

Read more at Yahoo Finance: Wheat Falling Lower on Tuesday