10/24/14 AM Yesterday. wheat futures rallied for the third day in a row. They closed at a two month highs, even though, the weekly export sales report numbers under performed. Producer selling has been spotty at best. Bearish row crop fundamentals are being seriously countered by wheat's supportive technical signals. Upside risk appears to be trumping downside evaluations; it's a stair-step formation. As always, it's a work in progress. Sustainable trends/moves don't happen in days, but in weeks and months. There's enough short covering potential and 'new crop' weather concerns to keep traders wary and adaptable. SWW's deferred months still hovering around the seven buck mark; a few, low volume, country takers noted.
Dry conditions covered all primary U.S. and Canadian Prairies crop regions Friday afternoon. Temperatures ranged from the mid 40s in northern Michigan and the southwestern Prairies to the low 80s in northwestern Kansas and southern Texas. » More DTN Weather Commentary