I haven't touched on the wheat market in a few weeks and thought it might be a good time to revisit the situation and see if there are any major changes. The wheat markets, as we all know, turned strong in late July and August due to a drought in the Black Sea countries, most notably in Russia.

Production in Russia for 2010-11, according to USDA's attache in Moscow, is expected to be 41 million tons, 4 million tons below USDA's latest estimate and down 20.7 million tons from last year. The ongoing harvest is revealing poor yields and quality.

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