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Given the dry conditions in the Southern Plains, Kansas City wheat futures should continue to gain on Chicago, according to Steve Freed of ADM Investor Services.

Globally, ending stocks were cut 3.31 million metric tons (trade was looking for 1.1), mostly from the U.S and Australia, to 313.19 million tons, said Alan Brugler of Brugler Marketing. Russian wheat stocks partially offset the cut, with a 1.8 million tons bump to 12.53 million tons.

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