Fireworks and Tears — This Week in the Grain Markets

Opinion

Grains had a big week in the markets with everything ending in the green thanks to wet weather in the U.S. Midwest, and drier weather in Western Canada and Europe. November canola on the Winnipeg exchange nearly touched $12/bu, winter corn and soybean contracts pushed above $4/bu and $10/bu (respectively) in Chicago, and we’re starting to see delivered spring wheat bids on FarmLead into the U.S. at prices above $8/bu. The market is quite volatile right now, with daily swings are 3-5%, both down and up (almost hourly), as weather reports take the driver’s seat. We’re also approaching the zero-hour for…