Markets digest a grain deal renewal but also low production problems for Ukraine. March 20, 2023
Wheat gapped lower in today's session and a minor upside intra-day gap to Friday's close is now on the chart. The trade noted there is "some type" of Ukraine deal renewal. On a minor note of support, the US forecast suggests a short term return for below normal moisture for the Southern/Central Plains. Wheat "may" have made its major spring price low according to our similar year studies.
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