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CBOT wheat fell 5.5 cents to 564.5 cents and Kansas wheat fell 5.75 cents, while corn and soybeans also declined ahead of the USDA report. US export sales of 317,000 tonnes were below expectations, and Jordan and South Korea made feed wheat purchases from the Black Sea.
Eastern Australian drought, Canadian heat and a declining EU and Black Sea crop are tightening the global wheat balance.
Tightening global wheat supply from drought and weaker EU and Black Sea crops supports feed wheat prices despite short-term position squaring. Ongoing Black Sea and Australian shortfalls could firm feed grain costs for buyers.
graincentral.comGuest AuthorAug 9, 2018Not 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.
