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Western Canadian hard red spring wheat bids fell $9-$11 per tonne in the week ended January 30, following a sell-off in U.S. futures. Concerns about the Wuhan coronavirus slowing the global economy contributed to broad speculative selling across grain markets.
The March Minneapolis spring wheat contract was quoted at US$5.365 per bushel.
Lower U.S. spring wheat futures and weaker cash bids reflect risk-off sentiment, pressuring Canadian and U.S. wheat values in the near term.
grainews.caPhil Franz-Warkentin, GFM Network NewsJan 31, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
