US wheat futures could fall further

[caption id="attachment_4544" align="alignnone" width="1014"] Photo collected[/caption] Some of the factors linked to the global coronavirus epidemic have increased market volatility, which could affect wheat prices in the coming months. A veteran analyst told Virtual Viewers on June 1st. Steve Freed, vice president, ADM Investor Services, kicked off the Sosland Purchasing Seminar Web Series with a look at the current environment for wheat and market projections for the 2020 crop. Recent market volatility has been linked to the outbreak of the coronavirus (COVID-19) and spread to global pandemic levels this spring. That led to record global central bank interventions and stimulus expenditures. At the same time, stay-at-home orders led to unprecedented declines in demand for fuel, animal feed and some food, Freed said. Also, part of the picture was a steep drop in speculative interest in buying commodities, increased corn and wheat supplies and increased trade tensions between the United States and China, the world’s top two economies. Looking ahead, record world wheat supplies were expected to continue to weigh on world and US wheat prices, Freed said. Find more... Source: Online/SZK