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Wheat futures fell to their lowest level of 2017 after oversupply concerns mounted. March CBOT wheat dropped 1.3% to $4.13.5 per bushel, with record Russian exports taking sales from other exporters, and funds held a large net short position.
Record Black Sea exports and heavy fund shorting keep pressure on U.S. wheat prices, though a large short position raises the chance of a sharp rebound.
foxbusiness.comBenjamin ParkinDec 11, 2017Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Wheat fell to its 2017 low on 2017-12-11 on oversupply concerns, record Russian exports taking market share and a large fund net short, which directly describes the move.
