Related Keywords: Agriculture Email Print | December wheat was 7 1/2 cents higher overnight. The dollar made another new low for the move overnight. This was the 9th time in 10 days that the dollar index has traded at a lower level than the previous day at some point during the session. Wheat posted a moderate gain overnight in conjunction with a move lower in the dollar and a general advance in grains and other commodity markets. This comes ahead of tomorrow’s October Crop Production and supply and demand reports from the USDA. Traders are focusing on corn and soybeans on those reports, especially on the corn yield estimate. In the case of wheat, one analyst noted that the market is more interested in the pace of export sales and on planting progress and soil moisture levels for soft red winter wheat. Moisture levels are below average in many soft wheat areas in the Midwest, and forecasts call for dry weather to last at least through this weekend with only light and scattered moisture predicted in the north central Midwest on Monday. Traders have been expecting a big jump in planted area for soft red winter wheat this fall, but dry weather and higher prices for competing crops could trim early acreage expectations according to one analyst. Moisture levels are better across much of the Plains hard red winter wheat belt with the exception of the west central and SW Plains. Tunisia bought 25,000 tonnes of wheat yesterday on a tender for 67,000 tonnes of soft milling wheat. They also bought 25,000 tonnes of durum, the same amount that they had tendered for. Iraq reported that it bought just 50,000 tonnes of wheat last week despite an earlier report that it had bought 250,000 tonnes. Ukraine announced today that its wheat exports will be capped at 500,000 tonnes through the end of this year. Brazil estimates this year’s wheat crop at 5.44 million tonnes versus 5 million tonnes last year. Brazil is the world’s second largest wheat importer after Egypt. India reports that its wheat stocks stood at 27.7 million tonnes as of October 1st versus a target of 11 million tonnes. Rice stocks were 18.4 million versus the target of 5.2 million.Bron:CME