Loading…
CoBank expects Russia's smaller wheat crop from drought and frost to drive extreme volatility in world wheat markets. Russia supplies about a quarter of world wheat exports, and global stocks-to-use ratios are historically tight.
Turkey's import ban and US harvest pressure have caused recent price swings.
Tight Russian supply and low world stocks raise the risk of sharp wheat price rallies once Northern Hemisphere harvest pressure fades, raising feed costs.
cobank.comJun 20, 2024After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% over 20.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
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.
