The Hightower Report said, “Wheat led the grains today and closed poorly on buy the rumor, sell the fact trade now that the Kansas crop tour and USDA both have confirmed the very poor crop conditions. Speculative weather premium was being extracted, despite the fact the U.S. wheat crop is anticipated at a 54 year low.” John Heinberg at Total Farm Marketing said, “The Buenos Aires Grain Exchange has estimated Argentina’s 26/27 wheat production at 21.3 mmt, which would be a significant drop from the 25/26 figure of 29.5 mmt. However, this is in line with the USDA’s forecast of 21 mmt from earlier this week.”