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ADM's head of grain trading said reports of rain across South America, increased Russian export availability, and a large Australian wheat crop triggered long liquidation that pushed Chicago grains and oilseeds lower. US wheat fell about $4/t on the week, while Argentine wheat harvest reached 31% complete.
Heavier Russian export supply and a larger Australian crop add competition in export markets, pressuring wheat prices, though a weaker dollar makes US wheat more competitive.
farming.co.ukDec 4, 2020Not 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.
