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Price Futures Group's May 30 grains report shows wheat lower in all three US markets after Russian production estimates were cut to 80-82 million tonnes from over 85 million. Ukraine reportedly sent drones to Russian grain ports, and export sales remain weak with Black Sea offers plentiful.
Lower Russian output supports wheat, but abundant world supplies and weak export demand are dominating, keeping wheat prices under pressure relative to feed alternatives.
blog.pricegroup.comJack ScovilleMay 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.
