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Wheat fell in all three US markets after USDA raised winter wheat production estimates and ending stocks rose above trade expectations. Rice closed lower on good growing conditions and rising output, and corn and soybean trends were also reported lower.
Higher US wheat supply and ample rice output weigh on prices, while Trump's tariff comments add pressure on US farm export demand expectations.
blog.pricegroup.comJack ScovilleJul 17, 2024blog.pricegroup.comJack ScovilleJul 19, 2024Not 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.
Grains report on 7/17 shows rice closing lower on good growing conditions and rising output, reflecting bearish sentiment on the date of the move.
Rice closed lower on good growing conditions and rising output, a supply-driven bearish sentiment within the window.
