Weather sends wheat futures lower

Weather continues to be the fundamental force behind grain price action today, as an improvement in the forecast for corn and soybean harvest, and winter wheat planting pressured prices today, according to traders. 

Dry weather in the next eight to ten days is in the forecast for the Midwest and Great Plains, traders said.  Rain has caused wet conditions and harvest delays throughout the week. 

A stronger U.S. Dollar also pressured commodity prices today, and crude oil traded lower, traders said.

KC Dec wheat was 6 1/4 cents lower at $5.01 3/4 at midday.

CASH GRAIN: The basis feels fully steady, according to traders.