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Global wheat consumers are slowly drawing down stocks built by three years of large harvests, and Australian wheat prices sit near A$275 a tonne for old crop. US futures dipped on sluggish export data despite drought problems in the US Plains.
Ample global stocks limit upside in wheat prices unless production is cut further. Australian bulk wheat is uncompetitive for export, which keeps local feed grain prices anchored.
farmweekly.com.auGregor HeardApr 23, 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.
