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World wheat prices have trended lower since January 2023, down about $77/MT on average, driven by record Russian exports and ample Russian supplies. USDA projects global wheat use to decline for the first time since 2018/19.
Heavy Russian export supply keeps the world price floor low, so feed-grade wheat remains cheap relative to corn, though analysts flag bullish factors that could lift prices.
uswheat.orgOct 25, 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.
