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Oklahoma and Texas wheat cash prices, around $4.71 to $5.06 per bushel, are at their lowest since October 2020. The writer argues that wheat prices have returned to being driven by normal supply and demand, after COVID and the Russia-Ukraine war drove them up sharply.
Record world wheat output projected for 2024 (29.3 billion bushels) points to ample supply and continued pressure on wheat values, with stocks-to-use the key gauge for future prices.
farmprogress.comKim AndersonJul 30, 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.
