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US wheat prices have fallen sharply as cheap supplies from the Black Sea and Europe replenished global stocks. Large corn harvests worldwide are also pressuring the grains complex.
US winter wheat harvest is expected in a year when US farm income is forecast to drop sharply.
Heavy global supply and low export prices keep downward pressure on US wheat values and weaken returns for growers, which may reduce planted area over time.
reuters.comHeather SchlitzApr 17, 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.
