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At Teagasc's National Crops Forum, grain trader James Nolan said wheat prices will fall as drought cut yields in the Black Sea, EU and Australia. He said world stocks can cover the deficit, though Russian stocks are declining.
Expected drought-driven supply shortfalls in major exporters are offset by stocks, so the outlook points to flat-to-lower wheat prices with timing uncertain.
agriland.ieSiobhán WalshSep 16, 2018After 334 past bearish weather events, WHEAT moved a median -0.2% over 5 sessions (47% higher; middle half -1.9% to +1.7%), and -0.2% over 20.
After 70 past bearish weather events, KWHEAT moved a median -0.6% over 5 sessions (41% higher; middle half -3.9% to +2.5%), and -1.1% 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.
