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Wheat futures fell sharply in the week to November 27, with Chicago SRW down 3.1% and Kansas City HRW down 4.8%, after improved US winter wheat conditions (50% good or excellent) and snow cover. French planting was delayed by rain, and a planned loading of French wheat bought by China was pushed to 2024.
Improving US crop ratings and weak export pace point to ample supply and lower wheat prices, while delayed French planting and postponed Chinese shipments are modest offsets.
ukragroconsult.comNov 28, 2023Not 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.
KC HRW fell 4.8% in the week to Nov 27 on improved US winter wheat conditions and snow cover, a supply-side driver of the price swing just before the window ended.
