Technicals and profit taking hit the wheat market today, Ami Heesch of CHS Hedging said. There are ideas of crop conditions being “not as harsh” as expected, she said, after the cold snap that hit much of the U.S.
There is a chance of some “much needed rain” in the southern plains, Total Farm Marketing said, which will help the wheat crop. They added there is “enough supply uncertainty and food security concerns to keep prices supported.”
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