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StoneX reports that May SRW and HRW wheat have fallen below US$7 and US$8 for the first time since the Black Sea war began, with canola, soybeans and corn also lower. It says there is no global wheat shortage, with Russia the low-cost supplier, while South American drought is still supporting oilseeds.
Ample global wheat supply and low-cost Russian exports keep wheat prices under downward pressure, and canola is weaker on the day.
stonex.comCraig TurnerMar 6, 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.
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.
