It really seems like market cannot really care about the weather: there’s a so called ‘bomb cyclone’ and East Coast airports are closing, shark are dying frozen, even in Florida, iguanas are falling frozen from trees (in full hibernation mode), but Wheat, Corn and Soybeans markets aren’t panicking just yet, and with a such short on board, this is quite interesting.
When it is too cold, it is bad (winterkill risk in the us), when it is too mild it is also bad (Black Sea temperatures could take wheat out of dormancy, reduce the snow layer and expose it to winter kill). The never ending story…
On Tuesday corn and soybean prices in Chicago dropped and wheat marked slight growth. In Paris wheat and corn declined and rapeseed rose. The moves were with small variations.
On Tuesday wheat prices in Chicago went up, corn remained stable and soybeans dropped. In Paris corn prices were unchanged, wheat and rapeseed rose slightly.
