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Kansas City hard red winter wheat futures fell below $4.00 a bushel, trading near 395 cents, levels not seen since 2006. Australian east-coast new-crop wheat futures also fell sharply, with the January 2020 contract dropping to A$312 a tonne.
U.S. ending stocks are at their highest since the 1980s while US exporters struggle for share.
Lower U.S. HRW futures and heavy US stocks weigh on global wheat values and cap export competitiveness for other origins. Australian prices track the CBOT and KC markets closely.
farmonline.com.auGregor HeardMay 1, 2019Not 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.
