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Localised crop problems in US hard red winter wheat areas pushed KCBT wheat futures back toward April highs. Other wheat contracts remained near recent lows, and funds were net short Chicago wheat.
Higher-protein HRW prices are supported by the US crop shortfall, while other classes stay weak. Short fund positions could add to a rally if they are covered.
farmweekly.com.auNathan Cattle, Clear Grain Exchange Managing DirectorMay 19, 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.
