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Grains closed the second week of November higher after a surprisingly bullish USDA crop production report, with soybeans reversing on November 9. Minneapolis wheat faded on spread trading to correct its premium over winter wheat, then Russia's planned export quota lifted wheat and new-crop 2022 contracts rallied sharply.
A bullish USDA surprise and Russian export quota plans support grain prices, though spread-driven swings add near-term volatility for feed costs.
agweek.comRandy MartinsonNov 19, 2021Not enough comparable past events yet for a historical read.
Not 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.
