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A market commentary notes that the first Ukrainian grain vessel since the invasion sailed on August 1 under the UN and Turkey-brokered deal, and that CBOT wheat futures fell more than 3% on August 2. It cites northern hemisphere harvest pressure and weather risks, and reviews USDA's July forecast of tighter global wheat supply.
Harvest pressure and resumed Black Sea shipments are weighing on wheat prices, although weather-related yield risk could reverse the trend.
uswheat.orgAug 3, 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.
