Weak dollar doesn't help crop prices much

Weak dollar doesn't help crop prices much

Wednesday's rally fueled by short covering by bearish wheat traders. (Audio)

The strong dollar was blamed for hurting crop prices earlier this year, but losses in the greenback lately haven’t done much to lift the market out of its funk. Wednesday’s trade did see strong gains led by a rally in wheat, but buying mostly came from short covering, not true demand. Wheat is holding on to its gains overnight, but corn is softer as traders look forward to Friday’s jobs data on Tuesday’s USDA production, supply and demand report.

Knorr discusses overnight market moves with Pam Jahnke, Wisconsin Farm Report, and you can listen using the audio tool on this page (just scroll down).

Weaker dollar isn't helping commodities much in overnight trade. Wheat gets a bump, but not from true demand.

Senior Editor Bryce Knorr first joined Farm Futures Magazine in 1987. In addition to analyzing and writing about the commodity markets, he is a former futures introducing broker and is a registered Commodity Trading Advisor. He conducts Farm Futures exclusive surveys on acreage, production and management issues and is one of the analysts regularly contracted by business wire services before major USDA crop reports. Besides the Morning Call on www.FarmFutures.com he writes weekly reviews for corn, soybeans, and wheat that include selling price targets, charts and seasonal trends. His other weekly reviews on basis, energy, fertilizer and financial markets and feature price forecasts for key crop inputs. A journalist with 38 years of experience, he received the Master Writers Award from the American Agricultural Editors Association. And you can follow Farm Futures throughout the day on Twitter at www.twitter.com/farmfutures.

Pam Jahnke is Farm Director of the Wisconsin Farm Report that is carried on 16 stations in Wisconsin.  Known as the "Fabulous Farm Babe" Pam studied broadcast journalism and broad area agriculture at the University of Wisconsin - River Falls. After college, Pam moved into her chosen field, doing farm broadcasting, radio and television, from Green Bay to Eau Claire, WI - and she's never looked back.  Pam often says she feels like farm broadcasting and communicating on behalf of food producers is exactly what she was made for. Pam has been named "Friend of Agriculture" by the Wisconsin Department of Agriculture for her assistance in raising awareness of the "Harvest of Hope" program. She has also served as president of the National Association of Farm Broadcasting.

Making sense of new technology and how it can be put to work on your farm will be important for the future. Check out this webinar recording of The More You Know, the More You Grow.

TAGS: USDA
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