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Chicago Soft Red Wheat futures have fallen over the past two months, with SRW now finding support near $300/t. Australian wheat prices are holding up better because local supply is tighter, according to Mecardo analysis.
Strong US winter harvest and rising global stocks pressure international wheat prices, but a tighter Australian supply picture supports the local premium.
mecardo.com.auAngus BrownJul 30, 2024Not 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.
