WHEAT – Up 3 to 5 cents per bushel
Weak dollar, corn strength supportive to wheat futures. Dry
weather in key winter wheat-planting areas also viewed as
bullish. Traders say market prone to profit taking on rallies.
* Rainy weather boosts soil moisture in eastern half of
U.S. Midwest, but more storms needed for winter wheat crop.
Conditions expected to remain mostly dry during the next 10
days.
* Wheat-planted areas in Italy expected to rise by up to 10
percent in 2010/11 due to high grain prices – senior economist
at farmers’ association Coldiretti.
CORN – Up 3 to 5 cents per bushel
Falling dollar seen supporting prices at open. Market still
sensitive to U.S. Agriculture Department’s reduced crop view
but traders seek new bullish inputs to drive prices sharply
higher.
SOYBEANS – Up 8 to 10 cents per bushel
Good export demand, falling dollar supporting prices.
Traders also note better-than-expected September crush figure
from NOPA on Thursday.
* Prices broke through $12 a bushel level for the first
time in 14 months during the overnight session.