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Chicago wheat futures fell to their lowest level in nearly a decade on ample supplies and technical selling, with the September contract dipping to $3.81 per bushel. Corn and soybeans also declined as a U.S. crop tour wrapped up with mostly robust crops.
The International Grains Council raised its record world wheat production forecast for 2016-17.
Record global wheat output and heavy U.S. supplies keep downward pressure on wheat, which lowers feed-grain alternatives and cheapens feed costs for buyers. Corn and soybean weakness signals ample feed supplies through the new crop season.
farmtario.comRod NickelAug 26, 2016
grainews.caRod Nickel, GFM Network NewsAug 26, 2016Not 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.
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.
