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Chicago soft red winter wheat futures fell to $5.95/bushel in the week of May 2, the lowest since March 2021, making U.S. SRW the cheapest wheat on the world market. Soft white and SRW classes have become price competitive for importers after strong recent harvests.
Cheap U.S. soft wheat encourages importer buying and can displace corn and other feed grains in feed rations, pressuring corn and wheat prices.
uswheat.orgMay 9, 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.
