The wheat market continued its descent in the latest week, with harvest pressure compounding the weaker tone across the commodity trade. Now producers need to be taking a long hard look at how they'll continue marketing their 2009 crop.
Storage remains a very attractive alternative for winter wheat growers with space available on farm and year-round markets. Quality concerns should keep the cash market firm in the west, while Chicago futures could finally resolve some of their basis issues. First, though, July will have to get through the more than 8,000 lots registered for delivery.
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