Chart: Improving Weather, US Dollar Strength Undermines Wheat

Improving weather for global crops and US dollar strength have been an unkind combination for wheat prices. As shown on the December Chicago futures chart below, wheat has suffered a particularly sharp downturn so far this week, trading below US$5.30/bu as of late afternoon Thursday. That is down almost 50 cents from earlier this month, and the lowest since late August. Already at a one-year high against other major world currencies, the American dollar was trading higher again today. The greenb