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Wheat prices have rallied recently despite lower acreage and poor crop conditions in hard red wheat states. Analyst Mike Zuzolo expects yields 3-5 bushels below USDA's May estimate, but notes Gulf soft red wheat prices are now above world offers, which weakens export demand.
Poor HRW conditions support prices, but uncompetitive US export pricing could limit demand and cap gains unless Eastern Europe or Australia production falls.
morningagclips.comZeusstogie67May 27, 2018Not 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.
