WHEAT: STEADY – HIGHER
Yesterday’s wheat trade inched its way to a 3-cent gain, and picked up another 3 ½ cents in the overnight session. Large parts of the western HRWW region picked up moisture yesterday and through the night. This front is currently working its way into the central region and will continue to give the crop another timely drink. There is some talk about freeze again and forecasters seem somewhat divided over whether it will dip far enough south to affect the crop. Overnight, Japan bought 145K tonnes of milling quality wheat with the U.S. providing 87K of the tender. This morning, for the first time in a while, outside markets are supportive with crude up around half a dollar, U.S. dollar lower, and index funds making a push.
Overnight trade settled 3 ½ higher in KWK12.
Kyle Smith, Mike O'Dea, Ben Parks, Collin Hulse, Ingrid Gronlund