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World wheat quotations rose 1.4-2.3% over the week after funds bought futures and Refinitiv cut its EU soft wheat forecast by 1.3 million tons to 123.2 million. Chicago SRW futures nonetheless fell 1.7% on the day and Russian 12.5% protein wheat slid to its lowest since September 2020.
Lower EU crop estimates support prices, but heavy global stocks and Russian export pricing cap gains, leaving the wheat complex under pressure for feed buyers.
ukragroconsult.comFeb 26, 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.
