US wheat futures were helped higher by large weekly international tenders. The general sentiment was the need to see a USDA report to gain further direction but in the absence of the monthly reports the market looked at increasing global demand as a reason to push prices slightly higher.

Offer values from the major exporters also crept higher with Black Sea wheat offered at roughly US$235 for milling wheat. Argentina is offered at roughly US$233.50 for milling wheat and US is offering wheat out of the Gulf at roughly US$235 for milling wheat.
SWW out of the PNW continues to extract a healthy premium.
On the international arena the three major exporters, USA, EU and Black Sea are all capable of winning a tender at present.

Trade talks between the US and China are centre stage and are reported as being positive although no definitive trade deal appears to have been struck. Knowing these two participants it’s probably safe to assume that whatever trade deal is struck won’t be worth the paper it is written on anyway. The main factor helping the US at present, well in the case of soybeans at least, is most likely the dry weather across Brazil and the impact it is having on some parts of the soybean crop.