Last week’s holiday-shortened four-day trading period saw May corn (ZCK26) lose 9 3/4 cents on the week. May soybeans (ZSK26) on the week were up 4 1/4 cents. May soybean meal (ZMK26) was down 10 cents and May bean oil (ZLK26) rallied 153 points last week. May soft red winter wheat (ZWK26) futures were down 6 3/4 cents last week, while May hard red winter (KEK26) lost 17 cents.
A strong U.S. dollar index ($DXY) that is near a 10-month high has been a negative “outside-market” influence on grains recently. A stronger greenback makes U.S. grain more expensive to purchase in non-U.S. currency. Most global grain trade is priced in U.S. dollars.
