Loading…
U.S. wheat futures fell to fresh lows on May 1 amid ample world supplies, weak U.S. export demand and beneficial Plains and Midwest rains. Corn also slumped on favorable Midwest planting forecasts and lagging export sales.
Ample global wheat supply and weak export demand pressure grain prices, cheapening wheat as a feed ingredient relative to corn.
grainews.caGFM Network NewsMay 1, 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.
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.
On May 1 wheat futures fell to fresh lows on beneficial Plains rains, ample global supplies and weak exports, so the downtrend and bearish fundamentals carried into May 2.
On May 1 wheat futures fell to fresh lows on Plains rains, ample global supplies and weak exports, creating the low starting point for the 5-day swing.
