A two month rise in wheat prices has fizzled.

Wheat prices have jumped over a dollar a bushel in the past few months due to dry weather in Russia and the U.S. amid strong demand.

Pro-Market Communications president Errol Anderson says wheat prices have dropped 20 cents a bushel this week because of recent rain in the U.S. mid-west and Russia.

He says prices could dip 25 to 30 cents a bushel.

Anderson says prices could re-bound in the February-March period, depending on weather.

Anderson says grain markets are volatile this week, with canola also taking a drop around $10 a ton.