May Wheat finished up 30 1/2 at 790, 2 off the high and 25 3/4 up from the low. July Wheat closed up 30 3/4 at 826 3/4. This was 25 3/4 up from the low and 2 1/4 off the high. The warm and mostly dry forecast for the southern and western sections of the winter wheat belt helped drive the market sharply higher today as traders see further heat episodes for the southern plain ahead compared with what was seen this past weekend. Areas of West Kansas, western Oklahoma and Texas saw temperatures of 95-102 degrees on the weekend and this is thought to have stressed crop conditions. Childress Texas hit a high of 102. The weekly crop updates begin this afternoon for the winter wheat crop and traders see current conditions as one of the worst on record to start the season. July wheat pushed to the highest level since March 8th and is up as much as $1.35 in just 14 trading sessions. European milling wheat futures jumped 2.6% on the session as US weather uncertainties plus some dryness issues in Europe helped to support. Weekly export inspections for wheat came in above trade expectations at 29.47 million bushels from 29.7 million last week. The weekly average necessary to reach the USDA forecast for the year is at 31.35 million bushels. Cumulative shipments have reached 78.2% of the USDA forecast for the season as compared with the 5-year average of 82.6% shipped for this time of the year. May Oats closed up 10 3/4 at 385 3/4. This was 10 3/4 up from the low and 1 1/4 off the high.

Bron: CME