Rain (in other places) Is Spoiling the Grain Market Parade

by

Opinion

Grain prices started falling back this week as moisture finally hit some areas of Western Canada and reported decent conditions of already-planted crops in the Midwest. There are, however, a significant amount of soybean acres that still have not been planted in major states like Missouri, Illinois, and Iowa because of persistent wet conditions. Ultimately, weather and a strengthened U.S. dollar (because of Greece’s credit default risk) are pulling the reins on any mid-June rallies. This pull back doesn’t really apply to canola, though, as lower expectations in Western Canada, plus the higher U.S. dollar helped push canola above the…

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