Diverging demand and weather? — This week in the grain markets

Opinion

Grain markets ended this past week rather mixed as demand and weather are supporting some crops, but not others. Winter wheat prices continues to pressured by harvest accelerating, while spring wheat and canola found strength on some technical factors and dryness in Western Canada. Despite some favourable long-term temperature & rainfall forecasts for most of the Midwest, corn and soybeans found small gains on optimism that China will start ramping up purchasing in order to meet Phase One trade deal targets. This past week, top U.S. trade negotiator, Robert Lighthizer, told Congress that he’s confident that China will make good…