FOR FRIDAY: (10/14) Wheat was the big story on Thursday and it was a very unusual day that surprised us. Wheat export business included Egypt buying Black Sea wheat, Saudi Arabia in the market for nearly 600,000 metric tons, and Japan buying some U.S. wheat. Farmers harvesting Midwest corn and soybeans should have dry weather today and tomorrow in most of the Midwest. Rain is forecasts for western Iowa on Friday. But, the seven-day and 6- to 10-day outlooks still favor rain for the region. The 6- to 10-day outlook (Oct. 18-22) still favors above-normal temperatures for most of the country. Cycles are not there but would be open to slightly higher prices on Friday before harvest pressure kicks in so a gift for sellers and hedgers.
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