Dry Conditions Support Grain Prices

Standard Grain President Joe Vaclavik expects quick planting progress, but dry soil conditions are supporting prices. “U.S. weather looks wide open for another week. Most of the Corn Belt won’t see more than one inch of rain in the next week. The problem areas continue to include the Dakotas, there’s not much relief in sight at all. The spring wheat market has also been acting very well. There’s a lot of support because of that.” The spring wheat is trying not to lose acres. “It’s tricky, because crops like corn and soybeans make more money than spring wheat. This could be an interesting deal. If these crop problems continue on lighter acreage, also in Canada, there could be a story there.”