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CBOT, KC HRW and MPLS wheat futures fell sharply on Thursday, with December Chicago SRW hitting a 9-month low and open interest rising, suggesting new selling. Wheat rebounded 5 to 7 cents in early Friday trade as the US dollar hit a 19-month high and Russia-Ukraine peace talks weighed on the market.
A stronger dollar and peace-talk hopes that could ease Black Sea supply concerns are pressuring wheat prices lower, which makes wheat a cheaper feed grain alternative for buyers.
| AFFECTS | 1d | 5d | 20d |
|---|---|---|---|
| Wheat (SRW)▼bearish | +0.3% | — | — |
| Wheat (HRW)▼bearish | +1.5% | — | — |
| US Dollar (Broad)▲bullish | — | — | — |
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.