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Wheat prices fell after Ukraine said it would keep exporting grain through Danube ports, which can handle 8-10 million tonnes in the new season. US winter wheat harvest was 56% complete and spring wheat conditions improved, while US wheat exports fell 65% week on week.
Alternative Danube routes and faster US harvest progress reduce the supply risk from the Black Sea grain deal collapse, pressuring wheat prices lower. Feed buyers face less near-term upside in wheat as a feed substitute.
graincentral.comGuest AuthorJul 31, 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.
Ukraine saying it would keep exporting via Danube ports, along with improved spring wheat conditions and weak US exports, eased war-risk premium and pushed prices down in the days before Aug 3.
