A return to fundamentals? — This week in the grain markets

by

Opinion

Grain markets were able to squeak out some gains this week, but corn prices were the obvious worst performer as the size of the impending harvest becomes better known. Wheat prices were able to earn a few pennies, thanks to hot weather concerns in North America and Argentina, while soybeans were supported by Chinese buying and an edible oils complex that’s feeling a bit bullish. Staying in wheat, while the market has already priced in production downgrades in Europe and the Black Sea, the IGC did just lower its global wheat production estimate by 6 MMT for a total worldwide…

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