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An analyst argues that the current wheat price rally may not be sustainable, noting that the usual seasonal pattern has been for prices to peak mid-year and fall into harvest. He points out that harvest is already underway in Europe and the Black Sea.
Doubts about the durability of the rally suggest that forward buyers should be cautious, as harvest pressure could push prices lower later in the year.
farmweekly.com.auMalcolm BartholomaeusApr 21, 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.
