04/23/2026 Wheat Strengthens Despite Coming Plains Rains

04/23/2026 Click Above to Watch the Morning Market Talk Video Wheat Strengthens Despite Coming Plains Rains On the Grains Grain and soy markets traded higher overnight, with the exception of soy oil, led by HRW wheat futures. Crop concerns in the Plains are well documented as last weekend’s cold blast added to drought struggles. Traders are also now focused on cold conditions in the Black Sea region, which could threaten the region’s wheat crop. July HRW futures are hovering just below last week’s high of $6.63. A breakout above that level would open additional upside potential. Corn and soybeans will look to wheat for leadership on any upside push. The failed upside breakout from the five-week choppy range in soybeans on Wednesday signal that market may be especially difficult to pull along. Forecasts call for some of the dry HRW areas in the Central and Southern Plains to receive their best rains in a while over the next several days. That will help the developing crop, though farmers say conditions are so poor in some areas, the rains will be too late to have a big impact. Expectations For Export Sales Week Ended April 16 Corn: 1.0 MMT to 1.8…