Geopolitics, trade, and weather are all making an impact on the grain markets in recent weeks and that trend looks to continue as the calendar turns to May.
Commodity broker Greg McBride of Allendale says that the upcoming meeting between President Trump and Xi Jinping the President of China, will be closely watched.
Weather is also a major factor in the marketplace with dryness in the wheat growing regions of the U.S. offering support to wheat prices in recent weeks. However, McBride says that rain in the forecast could change the outlook for the wheat markets.
McBride says that while the Trump visit to China will likely focus on the Iran war, geopolitics, and ag trade, one ag commodity could be sidelined at the discussion.
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