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A world grain review says the international wheat market is coping better than expected with a combined crop shortfall of over 30m tonnes from Russia, Europe and Australia. Ample stocks and supply from exporters such as Canada and Argentina have kept supplies loose, and US wheat futures have fallen about 16% from January peaks to 13-month lows.
Ample exporter supplies and fallen futures prices point to lower wheat prices, which lowers feed-grain alternatives' cost pressure and favors buyers.
millingandgrain.comDynamicApr 23, 2019Not 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.
