Wheat futures closed sharply lower setting new 3 month lows on a stronger U.S. Dollar and less than expected export inspections last week. Export inspections totaled 11.4 million bu for wheat including 1.3 million bu in Soft White shipments. Corn inspections were 34.9 million bu and soybean inspections were 55.9 million bu. Corn closed slightly lower. Soybeans were higher. Commodity funds were sellers of both wheat and corn but buyers of soybeans. The U.S. Dollar continues to trend higher. Crude oil traded lower, back to around $45/barrel.
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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Market Weather Outlook
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Midday Hot Sheet
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I was somewhat caught off-guard Friday when a few members of Practical Farmers of Iowa asked that I stick around their conference for a one-woman play performance. I was already facing an evening drive home and dinner from a drive-thru.
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