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World wheat FOB prices have fallen about $32/MT since the start of 2024 and sit near $255/MT below the May 2022 peak, now between $200 and $300/MT. Russian and Black Sea exports and record supplies have removed the war risk premium.
The analysis states the market has returned to pre-war trend levels.
Ample Black Sea supply keeps global wheat prices at pre-war levels, limiting the cost of wheat-based feed ingredients. Buyers face a low-price environment unless supply shocks occur.
uswheat.orgMar 21, 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.
