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Chicago wheat fell about 7% for the week, its steepest weekly drop since late August, as technical selling and competitive global supplies weighed. The May contract hit a fresh contract low before recovering slightly, while soybeans and corn rose modestly on Brazilian crop forecast increases.
Heavy export competition from Black Sea and South American supplies keeps wheat priced low, which lowers feed-grain substitution costs for buyers. Soybean and corn gains were capped by South American export pressure.
agcanada.comAGCanadaMar 2, 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.
