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Argentine wheat farmers are looking toward a record harvest as poor crop weather hits competing exporters. Wheat prices in Argentina have risen, with the current price around $215 per tonne after a strong June gain.
Weather problems at rival origins can tighten global wheat supply and support export prices, while a record Argentine crop would add competing supply later in the season.
reuters.comHugh BronsteinJul 29, 2019After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
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.
