The Hightower Report said, “A steady start this morning for wheat after very strong action last week and increasing attacks by Ukraine and Russia over the weekend. The attacks are slowing exports out of the Black Sea and SovEcon now expects July Russian exports at only 1.5 million tons, down from 2.2 million in June. Demand is beginning to shift to other EU countries in Romanian and Bulgarian wheat prices are now at a one year high. U.S. hard red wheat typically gets better support from geopolitical events like we are seeing in Black Sea as it competes directly with Russian medium and high protein exports. The longer the attacks continue the more bullish for the wheat market.” Amanda Brill at Total Farm Marketing said, “USDA’s latest Drought Monitor showed 48% of U.S. winter wheat acres in drought as of July 14, up 1 percentage point from the previous week. Drought coverage across spring wheat acres increased 5 points to 24%, which could weigh on next week’s crop-condition ratings, although that remains 12 points below last year’s level.”