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PNW Farmers Cooperative reports wheat futures closed sharply lower on July 20, giving up most of the prior week's gains with no new fundamental news. Wheat exports for the week ending July 16 were 500,607 MT, and USDA's Ag Attache forecast Australia's 2020/21 wheat crop at 27 MMT.
Routine harvest-season selling and a large forecast Australian crop weigh on wheat prices, though strong exports to China and Taiwan provide some support.
pnw.coopJul 20, 2020Not 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.
