Winter weather and harvesting go hand in hand in the grain market

The wintry weather in America and to a slightly lesser extent Russia caused a surge in wheat prices on the Chicago exchange last week. It always takes some time before frost damage in grains becomes visible. Coupled with the significant amounts of snow that have fallen in the US, it is reasonable to conclude that the market took a step back yesterday. A little further south, in Brazil, it is not the winter but the harvest work that captures attention. The harvesting of soybeans is slightly ahead of last year while the corn is lagging behind.