IDAHO WHEAT COMMISSION

News

Markets Look for Weaker Dollar as Purchasing Conditions Improve

With recent breaks in U.S. and global wheat futures and lower freight rates, the wheat market seems to have turned a corner to favor buyers after two years of volatility and risk. Despite the improved general outlook, inflationary pressures persist, influencing macroeconomic conditions both in the U.S. and for our customers overseas. For example, major runups in the U.S. dollar in the second and third quarter of 2022 impeded wheat trade. Yet even with recent strengthening, the U.S. dollar index has decreased 7% from the highs hit in September 2022, providing some relief for wheat importers.