Corn and beans posted modest gains overnight, while wheat drifted fractionally lower.
The next 10 days look to be hot for the US Central Plains as high temps in NE/KS/SD will consistently be in the upper 90s and low 100s. For IA, it will be on the fringe of the heatwave with Western reaches of the state seeing upper 90s, while the Eastern part of the state will hover below 90 for the 10-day period. Rainfall is also expected to be limited in these areas with only 1 to 1.5 inches expected over the next two weeks.
Egypt’s GASC bought 200,000 MT of wheat with the deal going to Russia, Romania and French suppliers. The Taiwan Flour Millers Association bought 105,000 MT of milling wheat from the US. In Russia, wheat harvest continues to move along with yields reportedly higher than last year.
The US Dollar index hovered around 10-month lows. The dollar has come under pressure as Republican legislators' failure to pass a stalled healthcare bill raised fears for the rest of President Donald's Trump reform agenda.
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