Wheat prices finally find positive traction in the US

Grain prices have struggled early in 2023, but some contracts were able to find some positive momentum on Thursday. Spring wheat futures saw the most upside, moving around 0.75% higher today. Chicago SRW futures also tacked on small gains, while Kansas City HRW futures eased slightly lower. Corn prices were near-even, while soybeans suffered another moderate technical setback after sliding 0.75% lower. Between Friday and Monday, the Mid-South and much of the eastern Corn Belt should see some additional rains and/or snow, while areas farther west should remain relatively dry through the weekend, according to the latest 72-hour cumulative precipitation map from NOAA. The agency’s new 8-to-14-day outlook predicts seasonally wet weather will be likely for most of the central U.S. between January 12 and January 18, with warmer-than-normal conditions probable for most of the country during this time. On Wall St., the Dow slumped 278 points lower in afternoon trading to 32,990 after ...