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Wheat futures in London, Paris and Chicago have fallen to their lowest levels since summer 2021 and have more than halved since May 2022. Declines have been driven by fund short positions rather than farmer selling.
Fund short positions keep pressure on wheat values, and any short-covering or supply shock could cause sharp rebounds. Buyers face a choice between hand-to-mouth buying and locking in cheap supply.
czapp.comJolyon HobbyFeb 22, 2024Not 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.
