# Lack of rains giving markets life - Agweek | #1 source for agriculture news, farming, markets

> Wheat trade was choppy in the week to February 18, with prices rising on dry southern Plains forecasts and then falling after rain forecasts for Oklahoma and Texas. Bloomberg reports noted Canadian farmers shifting toward wheat and canola and Black Sea exporters gaining share from Australia.

- Date: 2018-02-18 · published 2018-02-18T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/12885-lack-of-rains-giving-markets-life-agweek-1-source-for-agriculture-news-farming
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Rain forecasts for the southern Plains reduce the drought premium in HRW wheat, while longer-term Black Sea competition could cap export demand for US and Canadian wheat.

## Read by commodity

- SBO: bearish ▼
- KWHEAT: neutral
- CANMEAL: neutral
- PALMOIL: bearish ▼

## Sources

- agweek.com: https://www.agweek.com/opinion/fats-markets-keep-on-breaking
- agweek.com: https://www.agweek.com/opinion/lack-of-rains-giving-markets-life

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.