Jeff Wilson joined the Pro Farmer team in 2018 as our senior market analyst.
Hot temperatures and some excessive moisture reduce Midwest crop conditions.
Dryness concerns rising in Australian wheat belt as rains may favor crops in China and Russia.
Weekend rain and more this week will help to cool temperatures for the next week.
Rising demand should help to put a floor under prices after new lows last week boosted fund short positioning.
Few signs for easing U.S.-China trade tensions keeps market focused on USDA forecast for record carryover amid generally benign Midwest weather.
Warm, dry weather leads to slight gains in drought conditions as rains ease concerns in northern Great Plains.
It's a relief rally today on signs of some easing of U.S.-China trade friction, but gains will be capped by poor weekly export sales and non-threatening U.S. weather.
Higher storage rates increase futures carrying charges, reducing incentives for wheat storage.
Ramped up U.S. tariff threats keeps traders negative ahead of Thursday's USDA supply and demand update.