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The Teucrium Wheat Fund fell 1.9% to a new low on 29 August as CBOT wheat dropped 2.6% to $3.9675 per bushel, its first trade below $4 since 2006. Global wheat stocks are building from large harvests, with the IGC raising its world production forecast to a record 743 million tonnes.
US winter wheat output rose 21% and Russia is set to become the largest exporter.
Record world wheat production and large exporter supplies from Russia and the US push wheat prices down, lowering feed-grain costs. Storage shortages in several origins may force further sales and add pressure.
etftrends.comMax ChenAug 29, 2016Not 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.
