Wheat prices climbed in to record-high territory at $10 per bu. earlier this week as the USDA increased its oldcrop export demand forecast, Argentina kept its export registrations close and reports surfaced that Russia might close off its exports in February. Prices later slipped, however on improving moisture conditions in U.S. Plains and the Delta and profit-taking ahead of the holidays. Prices could remain very volatile in the coming month due to concerns about index funds rebalancing their ag futures early in 2008 and the USDA releasing its final production, quarterly stocks, winter wheat seedings and supply/demand reports on January 11.

 - Exports Prompting Record Wheat Prices and Larger Seedings - 12.28.2007