The wheat exchanges started the week of July 12 mixed with most of the early selling pressured tied to the lack of news. The wheat exchanges have been able to stage a very impressive rally the past few weeks with most of the buying coming from the funds as they work some weather premium back into the wheat. News of concerning weather in the Black Sea region and in Europe added to the strength.
Wheat started the short week higher with much of the strength coming from production concerns in the Black Sea region and issues in the European Union helped to added early strength to the wheat exchanges. Late in the week wheat was supported by fund buying and short covering.
The wheat exchanges started the week of June 21 higher with much of the early support spilling over from the higher corn and soybean. Additional strength was because of continued concerns about Canada’s weather as more rain fell during the weekend, further delaying any chance of getting the crop planted.
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