Rough Start to March for Wheat and Soybeans

Rough Start to March for Wheat and Soybeans

The flip of the calendar brought a fresh wave of selling to the soybean market. Support from the trucker strike in Brazil waned and harvest activity increased, giving traders a reason to favor the short side of the market. Wheat futures extended their recent losses this week amid a surging U.S. dollar that raises more concerns with the competitiveness of U.S. wheat on the global market. Meanwhile, corn futures posted losses for the week on spillover pressure, but avoided technical damage as the market continues to trade sideways. We discuss next week's USDA S&D Report and take a detailed look at the South American crop and transportation situation in this week's Pro Farmer newsletter.

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