December Paris Milling Wheat futures formed a key reversal higher yesterday.
With 75% of the US winter wheat in drought conditions this week, up 1% from last week, it is no wonder the winter wheat ratings are the poorest ever.
This week’s corn export sales were a marketing year high, which is not saying a whole lot, but it is a step in the right direction. Soybean sales for the week were not only a marketing year high, which is impressive, it was the third largest weekly sales of beans ever. We have had a couple weeks over 2.5 million mt; this week was over 3.03 million mt.