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Australian consultant Malcolm Bartholomaeus says Chicago wheat is recovering from seasonal and contract lows set in late August, with a gain of about US25 cents a bushel so far. He projects Australian wheat exports of 14 million tonnes, which removes supply from world trade, but notes that the large Russian crop may fill the gap.
He expects further gains of US20-25c/bu if prices hold above recent highs.
Lower Australian exports tighten global wheat supply, but Russian export flows cap upside. Feed buyers should expect modest support for wheat prices.
theland.com.auMalcolm Bartholomaeus, Bartholomaeus ConsultingSep 25, 2017Not 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.
