May 5, 2023
Tight global supplies have held up wheat prices since 2020 due to the surge of Chinese purchases, La Nina's influence on yields, Russia's invasion of Ukraine, and inflation. However, that price support is slipping.
On Tuesday, May 2, Chicago wheat prices dropped to a 25-month low. Then prices whipped back on Wednesday and Tuesday.
What's behind all the volatility? Is it Russia? Weather? Or something else entirely that farmers should keep an eye on?
Tune in as Jacqueline Holland explains the current fundamentals influencing the wheat complex, and where prices could be headed as U.S. farmers get closer to harvest.
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