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Soft white wheat traded near $8 per bushel on the Portland market, with Friday prices ranging from $6.65 to $7.90. Merchants attributed the rise to a rally in corn and tight old-crop wheat stocks, and noted that China has been buying US wheat for feed.
Wheat priced above corn as a feed grain pulls demand into the feed sector and supports wheat values. Corn strength pushing wheat higher signals broader tightness in feed grains.
eastoregonian.comStaff reportsMay 3, 2021Not 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.
