Farms.com Home   News

Wheat Futures Return to Weaker Ways

After a strong rebound at the end of last week, wheat futures went back to their losing ways on Monday. 

Fresh highs for the US dollar, which makes American supplies appear more expensive to foreign buyers, weighed on wheat today, as did continued concerns about the possibility of a recession which could hurt demand. News that China could again be locking down certain areas of the country due to rising covid cases also weighed on markets in general. September Chicago wheat dropped 35 cents to $8.56 ½, September Kansas City lost 30 ½ cents to $9.15 ¼ and September Minneapolis closed down 28 cents at $9.63 ¾. 

Corn managed small gains after posting stronger advances during the overnight session. Forecasts for mostly warm and dry Midwest weather, especially for the end of the month, initially powered the market higher. However, a sharp reversal lower in the wheat market and some forecasters adding rain chances was enough to pressure gains from earlier in the session, the CME market commentary said. September was up 3 ¾ cents at $6.37 and December added 5 ½ cents to $6.29. 

The warm, dry forecasts boosted soybeans, although the market also faded from stronger earlier gains. August soybeans gained 8 ¾ cents to $15.22 and November was 8 ½ cents higher at $14.05. 

Click here to see more...

Trending Video

Better Farming Ontario - Proudly Serving the World's Best Farmers for Over 25 Years

Video: Better Farming Ontario - Proudly Serving the World's Best Farmers for Over 25 Years


For over 25 years, Ontario Federation of Agriculture members have trusted Better Farming as a source for information to help them farm profitably, with insights and best practices for cash cropping, soil health, pest and weed control, livestock, and farm business management.

Watch this video to learn more about Better Farming and its relationship with producers across Ontario.

Message from Better Farming:

To our OFA farming readers, thank you for your time and your trust, for 25 years now. We look forward to continuing the journey with you.