Wheat markets were choppy this week, whipped around by extreme moves up and down in corn and soybeans and ever-changing weather forecasts, says Louise Gartner in a report at Successful Farming.
"We are in the thick of the growing season for spring grains and oilseeds, and weather has already created stress on those crops," Gartner writes. "But spotty rains and politics are causing significant volatility.
The day-to-day weather forecasts seem to generally get temperatures right but have not been reliable for projecting precip. For the next one to two weeks, there is enough rain in the forecast for the western Midwest that traders are willing to exit longs. If those rains do not materialize, there will be little to hold prices back.
Read the full report here.
