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Wheat futures were lower again today, but most contracts finished the session at least a nickel off of their respective session lows. SRW wheat was mostly 8 to 12 cents lower, HRW contracts were off 4 to 7 cents, and HRS wheat was mostly down 7 to 9 cents on the day. More concern about the Euro stemming from a likely Greek default supported a higher US Dollar Index today, which does not bode well for US export trade. Midday Gulf bids for CIF SRW slipped 9 cents for July shipments, 2 cents for August, and a nickel for September, respectively quoted at +30, +40 and +50 cents over Sept futures. Precipitation events stalled much of the Kansas wheat harvest yesterday and today, but the 6-10 day forecast shows below normal precipitation and above normal temperature for that state.
Jul 15 CBOT Wheat closed at $5.79 1/2, down 9 cents,
Jul 15 KCBT Wheat closed at $5.70 3/4, down 5 1/4 cents,
Jul 15 MGEX Wheat closed at $6.09 3/4, down 9 cents