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Chicago Soft Red Wheat December futures rallied back to about 756 cents a bushel after Russian export tax increases and heat and drought affecting the US spring crop. December SRW has gained 5% over the past two weeks and sits about 30 cents below May's nine-year high.
Russian export tax hikes and US spring crop stress keep wheat firm, raising the cost of feed wheat and supporting prices for wheat-based feed alternatives in Australia and other importing markets.
ukragroconsult.comOct 26, 2021Not 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.
