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Wheat prices rallied in late June and early July on dryness in the US northern plains and southern Prairies. Prices then gave up those gains as USDA estimates came in above trade expectations and global production recovered.
Chicago and Kansas City futures fell back to 10-year lows, with projected global ending stocks at a record high.
Record global wheat stocks cap price rallies in the wider wheat complex, though high-protein wheat remains tighter and may hold a premium.
grainswest.comtommy wilsonOct 2, 2017Not 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.
