WHEAT – Up 18 to 20 cents per bushel.
Flooding in global wheat producer and exporter Australia boosting prices to a five-month high.
** Bitter cold temperatures over the weekend in the U.S. Plains hard red winter wheat area likely caused little to no harm to the crop as a blanket of insulating snow covered the coldest areas.
* Weather this week does not appear as cold, but outlooks for another sharp temperature drop next week bears watching. No significant cold weather this week is expected in the U.S.
Midwest soft red winter wheat region, but colder weather next week bears watching.
* Mostly favorable conditions for harvest of wheat in South Australia, Victoria and southern New South Wales. Flooding remains a problem in Queensland.
CORN – Up 2 to 4 cents per bushel.
Spillover support from soaring wheat, gains in crude oil and from harsh weather in Argentina that was trimming crop prospects. Spot corn rallies to 29-month high.
SOYBEANS – Up 2 to 4 cents per bushel.
Boosted by soaring wheat market and dryness in Argentine crop areas that was threatening to trim crop production
* Rainfall and cooler temperatures likely early this week in Argentina, mainly in the south. This should help ease stress to reproductive crops, but the six-to 10-day outlook looks drier and somewhat hotter again.
×
Comments are closed.