The Times - Serving Waitsburg, Dayton and the Touchet Valley

For the 11 trading ses­sions ending Tues­day, Chicago wheat prices have traded within 20 cents per bushel of the lowest price since July 2010. There is doubt in the minds of would-be buyers; those that normally like to try to buy bottoming patterns, those that think seasonal patterns are likely to be completed now and those that are holding very profitable short-sold trades established at much higher prices over the last couple of months.

There are signs that US wheat is working its way into competitive global wheat marketing channels. Egypt purchased a vessel load (60 thousand metric ton...