An Up Week in the Markets Driven By Weather Woes; WASDE Holds Some Wheat Surprises

by

Opinion

Grain prices were all higher this week and ended with a WASDE report on Friday that the market read as bullish, even though the numbers didn’t fully imply that. Does the market just not believe the numbers, or perhaps it feels more cuts are on the way? Either way, weather is creating fairly volatile trading in the grain markets, and economic uncertainty in Europe and China is compounding the situation. Wheat prices are being resilient as drier conditions in Western Canada, Europe, and even Argentina continue to provide fodder for bulls, but the U.S. winter wheat harvest is picking up…

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