US wheat markets remain high amid weather concerns.

US markets mostly higher as the US and international weather concerns remained important. Minneapolis remains the weaker market as it is absorbing hedging from Canada and its harvest of Spring Wheat. Ideas are that current international price relationships will make for good demand for US wheat, but sales shown in the export sales report from USDA last week were not strong. The market has been under pressure from ideas that there will be plenty of wheat available in the world market due to the big increase in production in Russia. Canada has also forecast better than expected production for the current year. Canada has suffered through conditions very much like the US, with hot and dry weather in western sections of the Prairies. Australia also suffered from the hot and dry weather at key times in the growing cycle, and less production has been forecast by ABARES and other sources. Production ideas are now near 21 million tons for the country, but ideas are dropping as it is still dry and the plants are trying to fill kernels.