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Chicago, Kansas City and Minneapolis wheat futures rose about 2% on January 30, 2024, after a long decline. USDA data showed improved winter wheat conditions in several states, while US wheat exports in the week to January 25 fell 19% week on week.
Improved US crop ratings weigh on supply risk, but weak export pace and ample global supply limit upside. The rebound looks speculative, so wheat prices may stay range-bound near multi-year lows.
ukragroconsult.comJan 31, 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.
