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SRW wheat futures rallied to their highest levels in nearly nine years on reports of large export purchases, with HRW and spring wheat also surging. Corn hit a 2.5-month high while soybeans eased.
Fertilizer shortage fears in France pushed up nitrogen prices after soaring gas costs.
Strong export buying tightens wheat supplies and lifts prices. Higher fertilizer costs may reduce fertilizer-intensive corn plantings next year, adding support to corn.
profarmer.comPro Farmer EditorsNov 1, 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.
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.
SRW rallied to nearly nine-year highs on large export purchases, with input-cost worries from higher nitrogen prices adding support.
Notes corn hit a 2.5-month high alongside a wheat rally on export purchases, with fertilizer and nitrogen price pressure adding to sentiment.
