Weather Risk Takes the Wheat Market by Storm

In addition, the US-China ‘phase one’ trade agreement could result in higher US wheat sales to China, but this is not certain. The wording of the agreement leaves room for doubt, as China has pledged to buy US ag products based on ‘market conditions.’ With these points in mind, Rabobank expects wheat prices to remain volatile – but in the absence of a weather event, we adopt a bearish view.