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December wheat futures rose 2-3.5% in the week to November 6 as Northern Hemisphere weather improved crop prospects. The Buenos Aires exchange cut its Argentine wheat forecast to 15.4 million tons, while Russian supply continued to pressure European prices.
Heavy Russian supply caps wheat rallies, but Argentine production cuts provide modest support, leaving the price outlook balanced to softer.
ukragroconsult.comNov 7, 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.
