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DTN reports that July KC wheat closed limit-up on May 16 after India's export ban, then posted a record close on May 17. By May 19 it had fallen 72.5 cents to $12.95 1/4, mainly due to panicked stock-market selling.
The sharp reversal shows that wheat prices are being driven by volatile speculative flows as well as physical supply, so buyers should expect continued swings.
dtnpf.comTodd HultmanMay 20, 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.
