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Kpler reports CBOT wheat futures traded near $7.51/bushel on January 17, back to post-invasion lows, after spiking above $14 in 2022. CBOT Black Sea wheat was about $307/t, down from a June 2022 peak above $425/t.
Ukraine shipped 4.75 Mt of seaborne wheat in the final five months of 2022.
Wheat near post-invasion lows gives feed buyers cheaper wheat as a corn substitute, with Black Sea shipments the main upside risk.
kpler.comJan 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.
