Wheat futures closed sharply lower, giving back all of Friday's gains. Not much news to report. Snowcover in the Southern Plains and in the Midwest is helping protect both the Hard Red Winter and Soft Red crops from the continuing cold temperatures back there. Export Inspections for last week totaled 16.5 million bu for wheat including 4.7 million bu for Soft Wheat which included 1.7 million bu to Yemen. Corn inspections came in at 50.4 million bu and soybean inspections were 23.3 million bu. After the close individual states released their new winter wheat crop ratings. The Kansas wheat crop is now rated 44% good to excellent. Oklahoma is rated 42% gd/ex and Texas is rated 46% gd/ex. For Soft Red in Illinois is rated 47% good/excellent. The U.S. Dollar, crude oil and the Stock Market were all higher today.
Market hours: AM 9:00-11:10, PM 3:00-4:30 No PM market on Fridays No PM Hard Wheat Markets
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