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Wheat fell 4 to 6 cents in winter contracts on February 1 ahead of USDA export sales, with March SRW down 11 cents on the week. Argentina's 2023/24 wheat harvest finished at 15.1 million tonnes, and USDA's attaché raised Ukraine's 2023/24 wheat export forecast to 17.7 million tonnes.
Larger Ukrainian export forecasts and a recovering Argentine crop add supply to export markets, pressuring wheat prices.
commodity-board.comElizabeth GilbertFeb 19, 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.
