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Wheat futures struggled during the week amid weak demand and uncertainty over Russian wheat export plans, while a stronger US dollar weighed on prices. Statistics Canada lowered Canadian wheat stocks, a supportive signal mainly for northern states.
Corn held steady despite large US export sales of 293 million bushels and ethanol sales to China.
Weak wheat demand and Russian export uncertainty keep wheat under pressure, while a firmer dollar and cold-weather dormancy talk offer little near-term support. Steady corn reflects export strength offset by expectations of more acres this spring.
agweek.comMichelle RookFeb 5, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
Week-ending Feb 5 wheat weakness attributed to weak demand, Russian export-plan uncertainty and a stronger US dollar, which directly describes the sell-off drivers.
