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Australian analysts report wheat failed to push above 437.5 US cents per bushel and tested support at 419.5. US wheat prices have risen to uncompetitive levels, while Russian export prices have firmed and northern hemisphere weather risks persist.
Uncompetitive US prices and heavy global stocks cap export demand and feed wheat values, while weather risk offers limited upside support.
stockandland.com.auMalcolm Bartholomaeus, Market AnalystJan 30, 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.
