Highlights
The US dollar index had its biggest gain yesterday since early July. That made it very tough sledding for exportable products, but corn and beans managed small gains. Wheat has always been more sensitive to the exchange rate of the dollar and it got killed yesterday, breaking major technical support which turned technical buyers into sellers. Yesterday’s low on September wheat had not been seen since October 18, 2021. Late August or early September is when the seasonal low is made for wheat. The seasonal high is mid-January.