Rain makes grain, not prices rally — This week in the grain markets

by

Opinion

Grain markets took a pretty serious tumble to end the last full week of trading in June as beneficial rains fell, or are forecasted to fall on the large majority of North American growing regions. Thanks to said precipitation, the bearish players pushed corn and soybeans to fall every single trading session this past week, while Chicago wheat prices hit fresh 10-month lows on an accelerating winter wheat harvest in the northern hemisphere. Also pressuring commodities and, more broadly, stocks, was the surge in new COVID-19 cases around the world, but most notably in the U.S. and Brazil. Rain is…

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