HIGHLIGHTSCost of Frost: Frost damage in Russian growing regions that has hurt the country's ample wheat crop kept futures elevated throughout the day. Both are close to record-high levels, but that didn't dissuade traders from buying into futures that have spent much of the week dropping. The USDA pushed that number up to 14.81 billion bushels in 2024, which is up 100 million bushels from 2023. INSIGHTMoving Forward: Many grain traders are now shifting their focus to the Brazilian crop agency Conab's next supply and demand report, which is due on Tuesday. --The USDA will release its weekly Crop Progress report at 4 p.m.

Source: Wall Street Journal May 11, 2024 07:42 UTC