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CBOT nearby soft red winter wheat futures hit contract lows on Thursday, with May SRW settling at $5.32 a bushel after touching $5.26-1/2. Pressure came from rain forecasts for U.S. and Russian wheat areas and an apparent Black Sea ceasefire agreement, while U.S. export sales of 100,300 MT were at the low end of expectations.
Expected rainfall eases drought concerns and a Black Sea truce could lower freight and boost Russian export competitiveness, both bearish for wheat prices. Traders are also awaiting clarity on U.S. tariffs.
tradingview.comMar 27, 2025Not 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.
