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Wheat buyers in Asia, the Middle East and Africa are cutting forward purchases to two to three months of demand versus the usual six months, citing volatility. Chicago wheat futures are down 48% from last year's peak, though physical prices remain high amid Black Sea supply uncertainty.
Hand-to-mouth buying leaves importers exposed to price spikes if Black Sea shipments are disrupted, while thin forward demand limits near-term support for prices.
khaleejtimes.comReutersFeb 22, 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.
