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“All three wheat classes are trading higher this morning as wheat seems to have a correlation with moves in crude oil, although weather is a large factor too,” Total Farm Marketing said. “July Chicago wheat is up 13-1/2 cents to $6.47-1/4, KC is up 17-1/2 cents to $7.03-3/4, and Minn is up 10-3/4 cents to $6.97-1/4. Estimates for today’s WASDE report see wheat production lower than last year likely due to poor crop conditions.”
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“In today’s planting progress report, published after the close, spring wheat is 53% planted compared to 63% last year and a five-year average…
“Prices turned lower, unable to hold early strength. CGO July-26 was down $.03 ½ at $6.75 1/2., KC July-26 was $.06 ½ lower at $7.24 ¾, while…
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