WHEAT – Up 8 to 10 cents per bushel.
Support from active exports of U.S. wheat as global
production declines. A weak dollar also lending support.
* High Ukraine wheat prices prevent export to Russia.
* Australia heads for biggest wheat crop in 5 years – ACF
* Dry conditions continue to hamper winter wheat planting
and early development in many areas of Russia, Kazakh and east Ukraine
CORN – Up 2 to 3 cents per bushel.
Tightening stocks of U.S. corn, brisk exports and wet
weather that is slowing early U.S. harvest combine to lift
prices. Weak dollar and firm crude oil also supportive.
* Trade expecting USDA late on Monday to show U.S. corn
harvest 12 to 15 percent complete.
* Wet weather through this week in portions of the U.S.
Midwest will delay harvest of corn and soy and also slow
maturation of crops. The highest risk for this pattern is in
the western and northern areas.
* Large speculators expand net long in CBOT corn as of last
Tuesday – CFTC.
Support from climbing corn, short-covering after Friday’s
decline, a weak dollar and firm crude oil combine to lift
soybean market.
* Wet weather through this week in portions of the U.S.
Midwest will delay harvest of corn and soy and also slow
maturation of crops. The highest risk for this pattern is in
the western and northern areas.Drier weather in
the U.S. Delta favors maturing soy and boosting harvest
progress. The dry weather also favors any early wheat
planting.