Analyst: Wheat Market Rolls Lower

Chicago wheat gapped higher to start the week, with Kansas City following higher. But that was the only bullish action for the week, as prices turned south and steadily moved lower.


Politics Becomes a Force in Grains

This week, politics had as much to do with price action as fundamentals – talk of slashing trade deals and more rhetoric that threatened to spark trade wars.


An Early Wheat Rally Reverses Down

The week started out strong for wheat — but that was as good as it got. Follow-through buying from the bullish plantings report quickly faded as reports of better-than-expected rains across the southern and central Plains over the weekend relieved a great deal of the concern about drought and crop stress.
It was the spring wheat market of Minneapolis that saw the most volatility however, as elevators switched basis from the March contract to the May, about a month ahead of normal. The large inverse in March quickly faded with a large outside day lower on the futures.