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U.S. wheat prices have fallen nearly 10% from seven-month highs reached on Great Plains drought concerns. Global wheat output is expected to rise more than 5% this year, letting exporters such as Australia, Canada and Russia undercut U.S. prices.
Expected larger global supply and cheaper competing origins pressure U.S. wheat export prices, which matters because the U.S. exports about 40% of its crop. Drought risk in the Plains still provides some support.
greenbaypressgazette.comAlex BreitingerMar 16, 2018Not 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.
