# Year's best prices are probably behind us | Farm Online | ACT

> Chicago wheat futures fell to a new June low, below the May low and back to mid-April price levels. The article attributes the earlier rally to weather premiums from US drought and freeze, Canadian drought, European freeze and a dry Black Sea spring. It expects the seasonal peak to be behind the market.

- Date: 2021-06-28 · published 2021-06-28T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/12908-year-s-best-prices-are-probably-behind-us-farm-online-act
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Routine seasonal selling as weather premiums fade points to lower wheat prices in the near term, especially with fund positions being unwound. Renewed weather problems could still reverse the trend.

## Read by commodity

- WHEAT: bearish ▼

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/7316115/best-prices-are-probably-behind-us/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.