Credit: Shutterstock photoDecember Chicago wheat is trading 1/2 cent higher near 7:30 am CST. Kansas City and Minneapolis wheat are slightly higher. The November Matif Milling wheat contract is trading 1.50 Euros higher. Grain markets are seeing support from higher energy markets and fears that Tropical Storm Isaac will damage row crops in the southeast and Delta. The wheat market is struggling to keep up with corn and soybeans after another purchase of Russian wheat was announced by Egypt over the weekend. European and Asian markets were flat to slightly lower after worse expected economic data was released. The US Dollar is trading slightly lower which is offering marginal support to US Commodities.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
