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Wheat, corn and soybean prices have fallen sharply over the past three months, down about 35%, 25% and 17% respectively, even though much of the Lower 48 remains in drought. Demand concerns, especially in China, began pressuring prices in June.
Rain in key corn belt states and the tentative return of Black Sea grain shipments also eased prices.
Lower grain prices reduce feed input costs for livestock buyers and ease food inflation. The drought still threatens specific crops and regions, so the price decline could reverse if dry conditions persist.
axios.comMatt PhillipsAug 18, 2022Not 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.
