The Tech Guy was right and Roger was wrong. The USDA reports will be issued Thursday the 12th, not Friday the 12th.
The dollar index is at a six-month low despite higher interest rates. The spot month CBOT wheat futures price was $10.71 (now $7.42), the US carryout was at 121 days’ supply (now 112 days), the world carryout was at 124 days’ supply (still 124).
Wheat is the most sensitive ag commodity to the exchange rate of the dollar. Usually, if wheat was down, you knew the dollar index was up. That has not been the case since September 28th.
Someday, things will return to normal.