According to Mercantile, the market is not expecting any major changes in the USDA stocks and seeded area reports out today. Despite a weak U.S. dollar, slow harvest andweakening crop conditions, U.S. wheat prices will remain under pressure as crops in competing origins are harvested and are generally strong. Rain will drastically improve the condition of the crops in Saskatchewan and Alberta, sothere is less of an issue there. Strong export performance will whittle away at stocks and lower seeded area heightens the importance of a good crop in Canada. Spring wheat looks largely rangebound for now.

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