Dollar strength weighs on wheat in Chicago

After two sessions of sharp increases, against a backdrop of concerns about the climate in the Midwest, wheat prices finally gave way under the weight of the greenback this Wednesday evening in Chicago, falling back into their negative dynamics. The dollar remains at its peaks of more than two years and thus mechanically limits the competitiveness of US origins on the international scene. Corn and soybean prices also lost a little ground this Wednesday evening in response to slightly more optimistic weather maps in South America. Favorable rains should indeed reach Argentina in mid-January, after the net water deficit and high temperatures currently affecting the country. However, soybeans limited their losses after the USDA confirmed sales of 120 kt of soybeans to unknown destinations during the session. US ethanol stocks, on the other hand, jumped by 500,000 barrels last week (24.1 mb), ...