U.S. experiencing reduced demand
While most of the attention in the market is on the start of the U.S. harvest season, we are starting to see more attention on demand.

Demand for U.S. commodities has slipped in recent weeks for a variety of reasons, but the strong value of the U.S. dollar is a primary factor.

The U.S. dollar has rallied on inflationary buying at the same time the rest of the world has seen their currency values depreciate. This makes U.S. goods more expensive to a buyer, offsetting the decline that has taken place in the futures market.

Even with harvest starting in the United States, we continue to receive production estimates. These have started to move in different directions, with corn yields forecast to decline and soybeans working higher.

This is good news for the...