Wheat Futures Lower

The recent U.S. dollar strength and the record global supply of wheat has continued to pressure wheat prices Monday. March Wheat is trading at 525 1/4, down 4 3/4 cents. March Kansas City Wheat is down 7 cents at 557. Some chatter about cold weather in the coming weeks in central U.S. is making the rounds. The temperature has been above normal in the past week and snow melt has occurred. Some market talk is occurring about Ukraine coming to an agreement with some exporters that would limit shipments of wheat out of the country during January through June, but nothing is set in stone. The Ukraine government is likely to try and lock up domestic supplies in case tensions with Russia rise.