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World wheat futures fell to record lows as weak export demand from importers with good harvests persisted, and September futures were down 30-51% year on year. US wheat exports rose 44% in the week of August 16-22 and were 27.7% above last year's pace, while the EU, Ukraine and Russia all cut production forecasts.
Heavy price pressure from ample supply outweighs smaller crop estimates in the EU and Black Sea, so feed wheat remains a cheap alternative to corn in rations.
ukragroconsult.comAug 27, 2024Not 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.
