Numerous factors contribute to wild swings in U.S. wheat futures | MED-Amin network | Scoop.it

by Jay Sjerven (World Grain), 14/08/2018

Wheat futures earlier this month surged above recent highs set in May in Kansas City and Chicago and seemed poised to do so in Minneapolis spring wheat futures. While the rally that erupted in early July has been breathtaking, so, too, was the break in wheat futures from May highs to early-July lows that preceded it. The wild swings in fortune in the wheat market were tied to weather-related shifts in the U.S. and world wheat supply-and-demand outlooks for 2018-19 (USDA, International Grain Council), according to market analysts interviewed by Milling & Baking News.