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CBOT, KC and MGEX wheat futures fell 69, 55 and 58 cents respectively between May 24 and June 21 after a late-May rally. Russian production was cut 8.5 million tonnes to 83 million, and EU output was reduced by wet weather and flooding.
U.S. Wheat Associates says the volatility may create buying opportunities for US wheat.
Lower-priced US wheat and reduced Russian and EU crops together suggest tighter supplies, supporting price floors for feed buyers sourcing wheat.
ukragroconsult.comJun 28, 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.
