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ADM Agriculture's head of grain trading said US wheat rose about $2/t on the week after a USDA report on US corn supply and demand trimmed earlier gains. Russia expects a 120 mln t grain crop including 78 mln t wheat, and France raised its soft wheat estimate to 39.7 mln t.
Egypt bought 295,000 t of Russian and Ukrainian wheat in its latest tender.
Large Russian and French crops and higher US wheat stocks point to ample global wheat supply, which caps price gains. The Egyptian tender at slightly higher prices shows firm but not tight demand.
farming.co.ukOct 11, 2019Not 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.
