The inertia from the February USDA report, which raised the export forecast for U.S. wheat and reduced the forecast of ending stocks, was strong. Monday quotes soft wheat in Chicago continued to grow.

However, the fundamental factors in the near future can spoil the positive picture. Grain production in the leading producing countries of the southern hemisphere can be significantly above recent forecasts by the USDA.

Australia has confirmed it, on the order of Argentina and Brazil. Weekly volume of US wheat, tested on the USDA, was 55% less than the previous week and 20% less than during the same period of last year.

March quotes of the American winter wheat grown:

soft wheat SRW in Chicago by $1,19 to 166,17 $/ton
hard wheat HRW in Kansas city by $2,30 to 171,50 $/ton

Hard spring wheat HRS in Minneapolis has decreased by $0,64 to 209,71 $/ton.