EU debt issue drives marketsWheat started the week higher with support coming from what appeared to be an overall fund buying frenzy. With the EU debt issue soon to be a memory, traders are starting to return to the market. Additional support for the winter wheat exchanges came from weather forecasts that still are calling for warm dry conditions for much of the Southern Plain states. The Minneapolis market was under pressure late in the session as traders took profits on long Minneapolis short Chicago spreads.
By: Ray Grabanski, Special to Agweek