Loading…
Wheat futures reached 4.5-year highs in Chicago in early 2020 on Southern Hemisphere crop problems and a small US winter wheat area. Prices then fell about 10% from the January peak as the Chicago market moved to 2.5-month lows.
The decline reflected a mild winter in Russia and Ukraine, adequate moisture and larger Russian crop estimates.
Benign crop weather and larger Russian and Ukrainian supplies outweigh earlier supply concerns and push wheat prices lower. Cheaper wheat lowers the cost of wheat-based feed ingredients for buyers.
millingandgrain.comDynamicApr 24, 2020Not 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.
