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The Hightower Report said, “Wheat closed with a weekly upside reversal on Friday and is starting out steady this morning. There was little major fundamental news over the weekend but a short covering tone and minor positive shift in the technical outlook across the grains complex keeps the bulls with the slight edge.” Amanda Brill at Total Farm Marketing said, “In Australia, projections for the wheat crop continue to improve as harvest begins. Analysts have raised their estimates according to a Reuters poll due to better than expected yields. Estimates call for around 35.7 mmt of wheat produced or more.”
