The Times - Serving Waitsburg, Dayton and the Touchet Valley

U.S. Wheat exports have expanded from the pace of recent months, but not enough to cause the stress from demand that could change the current trend. The movement in Chicago futures in the last week has been in narrow daily ranges, contained above $6.97 and below $7.27 per bushel, matching the low last seen in late June of 2012 just as the price of wheat began a climb that reached $9.47 in the then-nearest July 2012 futures contract.

There is buying support at this level, but strong reasons for global buyers to pay up for wheat are not yet on the table. USDA's export projection is beginning...