Despite low traffic, wheat became cheaper

Crop prices showed a mixed picture in Europe and America this week. In Chicago, wheat was 1.3 percent cheaper, corn 1.1 percent cheaper, and rapeseed 0.3 percent cheaper, while soybeans rose by 0.2 percent. In Europe, milling wheat was 0.8 percent cheaper, and rapeseed 0.5 percent cheaper, but corn rose by 1.8 percent and feed wheat by 0.4 percent compared to a week ago. According to FactSet data, grain trading volumes in Chicago were low in the second half of the week. "Very volatile market movements were visible, with limited direction," commented Brian Hoops, a Midwest Market Solutions employee in a note. Wheat led the decline, while soybeans managed to stay in the positive range, despite traders and analysts questioning the outcome of the US-China trade agreement. "With key producers having ample global supply and China's response still weak, there is a risk that once the forced purchases are over, the markets will have to reprice the crops," said Ole Hansen, a Saxo Bank ...