The wheat complex was under pressure on Wednesday as money was coming out with pressure from crude oil. Chicago SRW futures was down 13 to 17 ¾ cents in the nearbys on the day. KC HRW futures posted 7 to 12 1/4 cent lower trade into the final bell. MPLS spring wheat saw losses of 11 ¾ to 17 cents in the front months at the close. Crude oil was down $16.45 on the day following a 2-week ceasefire between Iran and the US that includes the reopening of the Strait of Hormuz.
Forecasts remain wet for the next week, with portions of the Southern Plains showing 1 to 3 inches. Western parts of KS are seen with less than a half an inch.
