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U.S. wheat futures fell sharply in the week ending June 17, with SRW closing down 36 cents at $10.34/bu and HRW down 57 cents at $11.05/bu. Declines extended into June 23, and a Senate subcommittee held a hearing on persistent drought affecting Western wheat.
Sharp futures losses reduce wheat price levels for feed users, though drought concerns still support the HRW complex. Wheat feeding economics shift as the gap to corn narrows.
newuswheat.mysites.ioAmanda Spoo, Steve Mercer, Ralph LoosJun 23, 2022Not 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.
