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Chicago corn futures climbed to their highest since June 2013 and are up 37% in 2021, while wheat rose 16% year-to-date to its highest since February 2013. Black Sea milling wheat was quoted near $290/t C&F Asia for August shipment versus corn at roughly $305-310/t.
With corn priced at a premium to wheat, Asian feed buyers are switching to wheat, which caps corn demand and supports wheat feed demand and prices.
reuters.comNaveen ThukralApr 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.
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.
