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Chicago wheat futures rose almost 1% on August 30, rebounding from the prior session's losses on concerns over production downgrades in key exporting countries. Sovecon cut its forecast for Russia's 2021/22 wheat exports by 3.2 million tonnes to 33.9 million tonnes.
Soybeans and corn also gained modestly.
Lower Northern Hemisphere output and reduced Russian export availability tighten global wheat supplies and support feed-grain alternatives. Buyers should expect firm wheat and corn values while farmer selling stays light.
brecorder.comReutersAug 30, 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.
