date:Nov 07, 2012
ry conditions in the western and northern plains are raising concerns that some of the crop may not germinate ahead of winter dormancy. Additional support was linked to thoughts that Argentina and Australian wheat production may decline in this week's USDA report.
Most analysts feel global wheat production may be slashed again which offers a bullish bias long term. Export inspections for the week ending November 1st were reported at 13.9 million bushels which was up from 9.7 million last week.