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Agricultural commodities fell, easing some pressure from high food inflation, as traders weighed incoming harvest data and recession risks in major economies. Wheat and palm oil prices both declined notably.
Production estimates for key growers such as Russia were revised up after favorable weather.
Lower wheat and palm oil prices reduce input cost pressure for feed manufacturers, though recession-driven demand worries add downside risk to the broader complex.
bloomberg.comSybilla Gross, Megan Durisin AlberyJun 21, 2022Not 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.
