US wheat futures appear to be trying to find a base around these numbers. Selling moves higher and buying moves lower. The key is still speculation about increased demand for US wheat from those usually reliant on Black Sea wheat exports like Egypt and the Middle East.
I find it interesting that India has stepped into the export market but at this stage are not selling milling wheat into the N.Africa or the Middle East but are instead selling feed wheat into Asia. Possibly a good opportunity to reduce some excess stocks of lesser quality, and why not.

Back in the USA we see the 30 days precipitation map showing good rainfall across the SE and most of the soft red winter wheat country. Further west the eastern half of Kansas has seen some decent falls but moving west and north the map shows little rainfall over the last month.
With much of the upper Mid-West seeing cooler than average conditions for March, particularly the spring wheat belt, moisture levels, although concerning in the north are not creating major issues as yet but the trade are monitoring things closely. The seven day forecast does call for some rain across the eastern spring wheat belt in the US and across eastern Kansas and Oklahoma in the south so there is good potential for the dry spots to start shrinking in coming weeks.  The Canadian prairies are also in worse shape than they would like to be leading into the spring sowing season. One of the key reasons we are seeing good support for new crop canola values at the ICE. Cash bids out of SE Saskatchewan are now pricing new crop August pickup canola at C$927 per tonne, just C$160 below the old crop pick up value a month prior.
In Europe we see dry weather creeping into the picture with much of France, Germany, Poland and western Ukraine much drier than normal for this time of year. French crop progress reports suggest the crops are still in ideal shape but like the US this does need to be monitored.