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Wheat futures traded lower at midday on Thursday after fading early gains, with Chicago contracts down 5 to 8 cents. The second day of the Kansas tour averaged 42.4 bushels per acre, and the two-day average of 45.8 was a three-year high.
Kansas yield results running above the three-year average point to ample HRW supply, adding modest downward pressure on wheat. Routine price moves offer no new supply shock.
ibestmedia.comMay 16, 2024Not 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.
