WHEAT – Down 7 to 8 cents per bushel.
Firm dollar and follow-through technical selling lending pressure as long-liquidation continues as index fund portfolio rebalancing begins on
Friday.
* Mostly favorable conditions for final wheat harvest in southern Australia while wet weather remains a problem in the north. [ID:nDTN614]
* The potential for snowfall this weekend in the U.S. Plains hard red winter wheat region would be welcome since it could provide a blanket of
insulation from bitter cold temperatures forecast for late next week. There had been concerns some of the crop could be killed by the cold snap.
* Cold weather in the U.S. Midwest over the next 5-7 days does not appear cold enough to harm the soft red winter wheat crop but even colder temperatures longer term could be a problem.
CORN – Down 3 to 4 cents per bushel.
Firm dollar and fund long-liquidation weigh as expected index fund portfolio rebalancing begins on Friday. Rainfall this week in Argentina
also weigh.
* Rainfall this week in Argentina helped ease stress on crops but more
rain is needed. Overall satisfactory weather continues in Brazil.
SOYBEANS – Down 7 to 8 cents per bushel.
Pressure from firm dollar, technical selling and fund long-liquidation as expected index fund portfolio rebalancing begins on Friday. Rainfall in
Argentina also contributing pressure.
* More rain is needed in Argentina but some rainfall this week helped ease stress on crops. Overall satisfactory weather continues in Brazil.