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Just noticed wheat is having a solid Friday across the board. SRW futures are running up 18-21 cents, KC HRW pushing 18-19 cents higher, and MPLS spring wheat gaining 13-16 cents so far. Looks like some short covering happening as we wrap up the month.
What's interesting is the export quotes showing real demand - weekly sales came in at 22.998 MMT, which is 14% ahead of last year's pace. That's 94% of what USDA estimated, so we're tracking pretty close to normal flow.
French soft wheat crop condition dropped to 84% good/excellent though, down 4 points from last week. That's worth watching if supply tightens up. Mar CBOT wheat quoted at $5.92 1/2, up about 20 cents. Could be more upside if crop concerns keep building. Keeping an eye on how this develops next week.