Friday Brings a Wheat Comeback

A Friday bounce was expected in most grain markets today but the only market that reached a bounce that was expected was wheat. This is likely due to wheat still being the grain market with the largest setback. Forecast maps looking out 10 days don’t have much for rains except for light rain days 6 – 10 for KS with totals only reaching ½”. Yesterday’s exports was nothing special at 337K but it can be said it was somewhat of an improvement over mostly poor sales the previous 5 weeks. Both market commentary and wheat price suggests that virtually all in trade feel the Black Sea export deal will be extended despite a Russian threat seen last week.

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