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Chicago wheat futures fell about 1.2% on February 1 as weak demand and falling Russian export prices weighed on the market, with soybeans and corn also lower and near multi-year lows. Analysts at Rabobank said grain prices are likely to stay under pressure given a more plentiful 2024 supply outlook.
Ample Black Sea supply and low Russian export quotes cap wheat values, and soft corn and soybean prices keep feed grain costs favorable for buyers near term.
agriculture.comReutersFeb 1, 2024
brecorder.comReutersFeb 1, 2024Not enough comparable past events yet for a historical read.
Not 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.
