Harvest progress pressures grain market despite strong demand

The grain markets were marked by downward pressure this week as harvest progress raced ahead unhindered for much of the upper Midwest. Randy Martinson, president of Martinson Ag Risk Management, discussed the volatility of the markets this week with Jamie Dickerman of the Red River Farm Network during the Agweek Market Wrap on Friday, Oct. 23. As usual, other actions are at hand to move markets. This week wheat pushed lower. Martinson believes that is in part due to talks about a peace deal that could be coming between Russia and Ukraine — even if peace seems far from certain. Now, as soon as that was announced, of course, both countries continued to attack each other with drones and missiles, Martinson said. A lack of wheat exports from the U.S. would not likely improve if Ukraine were able to enter back into the trade market. For corn, the strong harvest progress is the main factor working against price improvements. But Ukraine s possible reentry into the