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Market Line
Grains ended the week in a familiar pattern closing with losses. Outside
markets were mostly negative as the dollar index was higher, precious metals lower and crude oil slightly lower.
Market Line
Wheat futures saw another choppy week of trade and finished near steady to marginally higher for the week.
Market Line
Weakness in the corn market plus sluggish export demand news and talk of improving weather for the new crop later this week helped to pressure the wheat market on Friday.
Market Line
The Chicago wheat market traded sharply higher on the day Friday following a week that saw extreme amounts of liquidation and profit taking.
Market Line
Wheat traded sharply lower heading throughout the trading session on Friday as pressure spilled over from the corn pit and perhaps from a general deterioration of global macro economic expectations.
Market Line
In the wheat market on Friday, funds were active sellers even with a positive tilt to outside market forces.
Market Line
The steep rally in the US dollar and more talk of improving crop conditions ahead helped to encourage more selling and the weakness in the other grains added to the negative tone on Friday.
Market Line
The USDA report for wheat Friday was slightly supportive with the U.S. ending stocks coming in at 825 million bushels as compared to 845 million last month.