Loading…
CBOT wheat rose from a two-month low on November 10 even though USDA's forecast of higher world supplies limited gains. Corn and soybeans slipped slightly.
Argentina's 2022/23 wheat crop forecast was cut to 11.8 million tonnes amid drought, and the Russia grain corridor deal remains uncertain beyond November 19.
The Argentine crop cut and the uncertainty over the Black Sea corridor give wheat some support, though the bigger world supply outlook caps the rally. Net direction is roughly flat for now.
brecorder.comReutersNov 10, 2022Not 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.
