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The AHDB weekly report says competitive Black Sea wheat supplies weighed on global wheat prices, with dry weather in Australia and Argentina limiting losses. Algeria booked about 600 Kt and Egypt about 120 Kt, with Russian offers at a single price.
The report also notes large maize supplies, with more US harvest pressure expected.
Cheap Black Sea wheat competes directly with corn in feed rations, which caps feed grain prices. Large maize supplies add bearish pressure on feed wheat and barley.
ahdb.org.ukSep 25, 2023Not 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.
