Wheat tries to follow the other markets higher today but buying was relatively restrained overnight. Kansas City futures are trying to recover from yesterday’s break below trendline support, while Chicago awaits the latest Egyptian snap tender, which is expected to be filled again from the Black Sea. Minneapolis, meanwhile, remains volatile after USDA confirmed lower spring wheat production in yesterday’s report, which should only convince farmers to keep holding their crop tightly on the northern Plains.

Traders don’t export big improvement in today’s sales report, with the average guess still below 15 million bushels.

Forecasts remain dry over the next two weeks for dry areas of the southwest Plains. Showers are winding down in Argentina’s wheat belt, while  Ukraine has a chance for light rain and snow midweek. More storms are moving into northern parts of Western Australia, but are not expected to reach wheat fields there to affect quality.

Volume in Chicago was off a little but still good at 155,757, with open interest down 2,465. Futures on milling quality wheat in Europe were mostly steady in early trading. Bron FF