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Durum prices rose sharply across Western Canada in the week ended July 27 while spring wheat fell modestly. Steep early-week gains followed Russian attacks on Ukrainian Black Sea and Danube ports but were erased by Wednesday as war concerns eased, and easing drought in the Prairies and US Plains added pressure.
Wheat prices are whipsawing on Black Sea headlines, but fading drought and reduced concern about supply losses are capping the rally. Feed buyers should expect volatile but not structurally higher wheat prices.
grainews.caGFM Network NewsJul 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.
Early-week gains from Black Sea port attacks were erased as war concerns eased and drought lessened in the Plains, adding downward pressure on prices.
