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Chicago May wheat futures rose more than 3% on Monday and hit a one-month high on strong global demand. Premiums for certain milling grades also rose as North American millers and bakers scrambled to meet a surge in bread buying tied to coronavirus stay-at-home orders in several US states.
Stockpiling-driven demand for milling wheat tightens near-term supplies and lifts wheat prices and milling premiums, which raises feed wheat and co-product costs for buyers.
reuters.comJulie IngwersenMar 23, 2020Not 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.
