This Week in the Markets — New Wheat Lows, a Rebounding Canadian Dollar, and the Value of Rain

by

Opinion

Grains this we week were mostly pressured by a lower U.S. dollar, as the Canadian Loonie rebounded to a whopping 83 cents, and seeding conditions across most of North America remaining pretty good. U.S. export sales showcased more international buyers canceling old crop wheat contracts and switching things over to buying new crop. Despite that, something was still on the books, as Chicago wheat futures dropped to their lowest levels in five years. Soybean prices saw a bit of a price improvement thanks to concerns of South American sales and logistics (more truckers and port worker strikes), but this is…

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