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CBOT wheat fell 13 cents to 370.5 cents, Kansas wheat dropped to 374.25 cents, and corn and soybeans also declined. Fund selling was expected to push wheat to record short levels, and US wheat was competing for exports to Africa and the Middle East.
Variable storage rates were triggered as wheat carry spreads widened.
Heavy fund selling and competitive US wheat export pricing point to continued pressure on grain prices. Triggered storage rates signal ample supply carrying into the new crop year.
graincentral.comGuest AuthorAug 29, 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.
