1. Also, some traders said the wheat market was attempting to stabilize after recent sharp declines. 2. A depressed export market pressured wheat markets. 3. Also, trading in the wheat market can often become volatile because of its small size relative to the corn and soybean markets. 4. But when the U.S. imposed sanctions, the Iranian wheat market was snapped up by countries such as Canada and Australia. 5. Commodity funds, which had held a substantially long position in the wheat markets, were liquidating some positions. 6. Corn and soybean futures advanced on strength in the wheat market, good export demand and the possibility of frost this weekend in growing regions. 7. Corn and soybean futures initially rose before retreating on weakness in the wheat market and concern about the possibility of weak export demand down the road. 8. In wheat markets, there was talk that Egypt soon would be in the market for U.S. wheat. 9. Kansas City wheat futures led other wheat markets higher Friday on continued concern about crop damage from a recent cold snap. 10. New sales would be welcome to the wheat market, which has slowed as importers digest recent purchases. |