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Marketcheck's Nick Crundall says global wheat, corn and soybean prices rose materially over the past six weeks, driven by a poor Brazilian corn crop and strong Chinese demand. He notes Dec-21 CBOT wheat traded near $358/t and MATIF Nov-21 rapeseed topped $840/t, and urges Australian growers to hedge new-season wheat and canola.
A tight global feed complex and strong Chinese demand support prices, so Australian growers face a chance to lock in higher forward prices before any correction.
farmweekly.com.auNick Crundall, Head of Strategy, MarketcheckMay 27, 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.
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.
