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Grain and oilseed futures fell sharply in calendar 2023, with nearby corn down 31% on record US production and Brazilian export competition. Chicago wheat dropped 21% on higher production, while China bought over 1.6 million tonnes of US soft red winter wheat late in the year.
The annual review confirms the bearish supply backdrop for corn and wheat entering 2024, with export competition limiting price recovery.
foodbusinessnews.netRon SterkJan 17, 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.
