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A recent wheat rally faded after foreign production came in higher than expected, at about the same level as last year's record harvest. Russia and Ukraine crops were larger, and the market adjusted for them, perhaps overcorrecting.
Prices had fallen about 80 cents in recent weeks.
Larger Black Sea and other foreign supplies add to global wheat stocks and pressure prices lower. Analysts expect volatility until more foreign crop information arrives in August through October.
news.okstate.eduJul 31, 2017news.okstate.eduJul 31, 2017Not 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.
