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A daily ADM global ag wrap reports that Asian rice prices hit a two-year high on El Niño drought risks and importer stockpiling. It also lists overnight futures moves, with wheat, corn and soybeans higher.
The rice rally reflects weather-driven supply concerns, while the grain moves are routine overnight price changes without a new fundamental catalyst. Impact on feed prices is limited.
admis.comADMIS Research TeamJul 11, 2023Not 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.
