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John Heinberg at Total Farm Marketing said, “Wheat closed on both sides of neutral. On one hand, a higher MATIF close, oversold conditions, and a drop in the US Dollar after a weaker than expected jobs report were all supportive factors. On the other hand, lower energy prices and weakness in corn and soybean futures today may have limited any rally in the wheat complex. In the December contract, Chicago gained 1/4 cent to 683, Kansas City fell 2-1/4 cents to 735-1/4, and MIAX closed 1-1/4 cents higher at 698.” ADM Investor Services said, “Putin formally rejected proposals to halt military strikes on energy refineries and vessels moving through the Black Sea while Turkey and the UN attempt to jump start new peace negotiations. Ukraine’s Ag. Minister expects his countries’ winter crop seedings, including winter wheat, will fall 15% this year.”





