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Wheat prices fell on Wednesday, with the March CBOT contract down 9.25 cents to 548.5 cents a bushel. Harvests starting in Argentina and Australia added selling pressure, and Australia's government forecasts a record crop of 31.8 million tons.
A record Australian crop and Southern Hemisphere harvest pressure add to global wheat supply, which tends to keep export prices under pressure.
zmp.deNov 28, 2024After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
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.
