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CBOT wheat slid overnight after the prior session's gains on higher Chinese demand for US wheat. The USDA raised its forecast of China's 2020/21 wheat imports to 10.5 million tonnes and cut global wheat stocks.
Corn and soybeans also fell in early trade.
Routine opening-bid moves largely reflect a pullback after Tuesday's gains, with the USDA import upgrade limiting losses. The price implication is modestly bearish for near-term grain bids.
brecorder.comReutersMar 10, 2021Not 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.
