“The market remains modestly higher most of the session but fell back late in the day to close near unchanged. Harvest pressure is a bearish factor as farmers are nearing 50% complete and the US dollar continues to move higher, raising concerns US values are getting even more uncompetitive. Rusagrotrans says Russia's 2025/26 wheat exports may reach 47.7 million tons, up from 42.7 last season. Bangladesh is tendering for 50,000 tons of milling wheat. Today's rally may be partly due to yesterday's production decrease for Russia by SovEcon on planted area dropping to the lowest since 2014. Very hot temperatures in France and Germany may be cutting yields as harvest nears and EU prices are rallying on the weather but Chicago was unable to carry higher. September Chicago is still holding 200-day moving average support at 589. Weekly export sales tomorrow morning are anticipated in range of 250,000 - 600,000 tons,” according to The Hightower Report.
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