Wheat Continues to Advance in Chicago

Wheat prices continued their upward movement on Tuesday evening in Chicago, despite the weight of a dollar index still stuck at its two-year highs. The drop in the thermostat in the Midwest is indeed attracting more and more market concerns, given the critical exposure of winter crops to these negative temperatures. The USDA also cut its “good to excellent” winter wheat ratings in Kansas by nine points compared to its publication last month, to 47%. Corn prices have stabilized, despite a sale of 110 kt to Colombia confirmed by the USDA during the session, while the soybean complex has evolved in a scattered order. The jump in crude prices, to the highest since last October, is indeed providing support to oil prices, but the risk of a slowdown in American international sales during the first ...