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A Reuters analysis compares the 2022 grain market spike with the 2008 price surge, noting that the 2008 wheat rally was tied to rising energy prices, biofuel crop use and tight rice supplies. Global wheat stocks-to-use among major exporters hit an all-time low of 13% in 2007-08, down from 22% two to three years earlier.
Historically tight exporter wheat stocks suggest prices can stay elevated and volatile, supporting feed and grain cost expectations for buyers.
reuters.comJun 23, 2022After 57 past bullish macro events, Wheat (SRW) moved a median +0.3% over 5 sessions (65% higher; middle half -0.5% to +1.7%), and -0.7% over 20.
After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 43 past macro events, Rough Rice moved a median +0.5% over 5 sessions (56% higher; middle half -2.0% to +2.3%), and +1.6% over 20.
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.
