Wheat markets found support from a variety of sources. “Wheat prices turned higher on a technical bounce, despite continued weakness in the corn market,” Ami Heesch, with CHS Hedging, said. “Prices could also be supported from the slow start of this year’s spring wheat harvest.”
Wheat found support from export prices as compared to Russian export prices. “Talk that US hard red winter wheat export prices and near or below Russia prices may have been supportive,” Steve Freed, with ADM Investor Services, said.