Wheat Market Outlook - May 21, 2024

All markets opened the week stronger, according to Mercantile. Minneapolis spring wheat futures were up 21.75 to 28.25 cents across the board. Weather is likely playing a factor, as the next seven days remain dry for the Southern Plains. Mercantile says Russian and EU FOB prices have also recently climbed to a more competitive price with the U.S. on the Black Sea crop concerns. EU (Matif) futures were up $12. Mercantile does not see anything that is bearish in the short term. Weather concerns will continue to dominate the markets.