# Wheat Prices Rally as Dollar Dips; Todd Hubbs Weighs in on Crop Outlook and Policy Rumors - Oklahoma Farm Report

> Hard red winter wheat rallied more than 12 cents midweek, which analyst Todd Hubbs attributed to President Trump's comments weakening the dollar. Hubbs said confirmed crop damage in the Northern Hemisphere remains scarce and flagged $5.75 July resistance as a possible selling level.

- Date: 2026-01-28 · published 2026-01-28T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/21102-wheat-prices-rally-as-dollar-dips-todd-hubbs-weighs-in-on-crop-outlook-and
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

The rally is largely speculative and dollar-driven, so without confirmed crop damage, prices may face selling pressure near resistance.

## Read by commodity

- DXY: bearish ▼
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2022-01-24 | [2022 Price Outlook for Hard Red Winter and Soft Red Winter Wheat](https://feedsoft.ai/events/43177-2022-price-outlook-for-hard-red-winter-and-soft-red-winter-wheat.md) | +1.1% | +5.3% |
| KWHEAT | 2016-11-04 | [Farming News - Wheat Market Report: High Court ruling affects futures](https://feedsoft.ai/events/73888-farming-news-wheat-market-report-high-court-ruling-affects-futures.md) | -0.4% | -4.9% |
| KWHEAT | 2017-12-20 | [Welch gives wheat market outlook for 2018 \| texaswheat.org](https://feedsoft.ai/events/67517-welch-gives-wheat-market-outlook-for-2018-texaswheat-org.md) | +1.3% | +1.8% |
| KWHEAT | 2026-05-13 | [Biofuel bets meet rising food shortage fears after USDA slashes U.S. wheat crop forecast - Pro Farmer](https://feedsoft.ai/events/10794-biofuel-bets-meet-rising-food-shortage-fears-after-usda-slashes-u-s-wheat-crop.md) | -2.3% | -12.5% |
| KWHEAT | 2022-06-29 | [WHEAT SCOOPS: $11 wheat, why and how long? – The Seam](https://feedsoft.ai/events/40982-wheat-scoops-11-wheat-why-and-how-long-the-seam.md) | -13.7% | -12.4% |
| DXY | 2024-05-31 | [Dollar Drops as Bond Yields Fall on Hopeful US Inflation Report](https://feedsoft.ai/events/30468-dollar-drops-as-bond-yields-fall-on-hopeful-us-inflation-report.md) | +0.3% | +1.8% |
| DXY | 2026-05-17 | [Dollar retreats as traders focus on Iran, Fed policy](https://feedsoft.ai/events/19471-dollar-retreats-as-traders-focus-on-iran-fed-policy.md) | +0.0% | +0.0% |
| DXY | 2025-03-06 | [South African rand jumps as Trump tariff drive weighs on US dollar](https://feedsoft.ai/events/25858-south-african-rand-jumps-as-trump-tariff-drive-weighs-on-us-dollar.md) | -0.5% | -0.1% |

## Sources

- oklahomafarmreport.com: https://www.oklahomafarmreport.com/2026/01/28/wheat-prices-rally-as-dollar-dips-todd-hubbs-weighs-in-on-crop-outlook-and-policy-rumors/

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