Wheat Market Outlook - January 13, 2025

According to Mercantile, the strong U.S. dollar is proving to be a challenge for U.S. wheat prices, but strong corn and soybean markets will drag wheat along to a degree. Mercantile says importers will increasingly shift their attention to Southern Hemisphere wheat as stocks dwindle in the Black Sea and the strong U.S. dollar elevates U.S. prices. Global prices are significantly lower than last year having already built in the slow demand and the large crops in the Southern Hemisphere. So, despite the struggling futures, Mercantile expects cash prices to be steady.