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Paris milling wheat prices reached a record above the 2008 high of €295.5 a tonne, while Chicago wheat traded above $8 a bushel for the first time since 2012. The rally is attributed to a poor North American harvest, a 14% year-on-year drop in Russian exports, and strong buying from China and North Africa and the Middle East.
Tight global supply and firm import demand push wheat prices higher across origins. Expected 2022 weather risks and high fertiliser costs could keep prices supported.
home.saxoOle HansenJun 16, 2021After 1,072 past bullish weather events, WHEAT moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
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.
