Wheat Market Outlook - March 11, 2024

Mercantile expects some weakness in wheat futures following the decline in cash values. Mercantile says there will be more pressure on the old crop as weather concerns and low returns makes new crop sellers reluctant. Chinese cancellations of wheat changed the United State’s tone, according to Mercantile. Cash wheat markets remain weak as the EU and Black Sea search for old crop demand. Mercantile would finish old crop sales but would hold off selling new crop for now.