Taking a breather with Easter — this week in the grain markets

by

Opinion

Grain prices finished a shortened trading week mostly in the red as the complex continues to ignore some negative weather forecasts on the basis that there’s amply grain stocks and that a crop today can get planted in a very short timeframe. Put another way, the bulls took a breather heading into Easter, with bears fully in control of market direction. On the wheat front, SovEcon increased their estimate of the Russian 2019 wheat harvest to 83.4 MMT, a significant jump from their previous estimate of 80 MMT. As a reminder, Russia took off a record wheat crop of 85…

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