Russian wheat supplies pressure US wheat values.

After catching a ride along with corn and soybeans, the upside over the past few weeks, wheat is dealing with the reality that Russia owns the wheat market. The very warm December in the Black Sea area has allowed Russia to go from 2.5 MMTs of export expectations to now exporting 4.5 MMTs wheat enema […]

Heartland Market Talk
Heartland Market Talk
Russian wheat supplies pressure US wheat values.
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After catching a ride along with corn and soybeans, the upside over the past few weeks, wheat is dealing with the reality that Russia owns the wheat market. The very warm December in the Black Sea area has allowed Russia to go from 2.5 MMTs of export expectations to now exporting 4.5 MMTs wheat enema  December. This is keeping the US at bay for exports. In the meantime, soybeans are retesting early week highs, as we await the weekend forecast to manifest. Expectations are for some rain in Argentina on Sunday and Monday.

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