Wheat has its moment to shine, thanks to Russian rumors and the December WASDE
AgweekTV's Michelle Rook and Randy Martinson of Martinson Ag Risk Management talk about wheat's big moment, the disappointments in the corn market, the outlook for soybeans and spinning wheels in the cattle market.
The wheat market has dawdled behind corn and soybeans, but it's had its moment to shine this week.
AgweekTV's Michelle Rook and Randy Martinson of Martinson Ag Risk Management discussed that and more on this week's Agweek Market Wrap.
A rumor that Russia will put a tax on wheat exports combined with decreased ending stocks for wheat in the World Agricultural Supply and Demand Estimates to pull up prices.
"It did give the market good strength," Martinson said.
He thinks there might be enough strength to keep wheat up until at least the New Year.
Next week will be the last full week of trading before the holidays, and Rook and Martinson talked about some markets just "spinning their wheels" while traders look for direction.
Corn has been disappointing of late, Martinson said. He expects the January WASDE report to clarify some demand and stocks issues.
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