Wheat Leads Grain Complex on Global Strain

Dow Jones
08/10

1114 ET - CBOT wheat futures are leading the grains complex higher in morning trade, with world volatility playing a larger role in how wheat prices move versus other grains. "With several areas around the world (U.S./EU, potentially Australia) harvesting short crops, Russian and Ukraine exports restricted by war, and fertilizer supply tightness due to tensions in the Middle East, wheat prices are expected to trade higher over time," says Doug Bergman of RCM Alternatives in a note. Corn and soybeans remain locked in rangebound movement, says Bergman. Most-active wheat futures are up 0.8%, while corn falls 0.1% and soybeans are up 0.3%.

 

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