Russia’s cheaper wheat prices are hindering the market, according to a market analyst and commodity broker in Minnesota.
Allison Thompson, president of The Money Farm, says both the U.S. and Russia are looking at higher production and ending stocks, but Russia’s cheap prices hurt U.S. farmers on a global scale.
She emphasizes some changes could be coming to the market as harvest reports from the southern hemisphere roll in. She adds we will need to keep a close eye on how El Nino affects Australia, Argentina, and Brazil as they are some of the top exporters and will likely see some big impacts.
