Thursday Channel Final Bell with Mike Zuzolo with Global Commodity Analytics | 9/5/24

The Final Bell

Geopolitical pressures continue to create uncertainty in the markets, making it difficult to forecast long-term trends. There are hints of a potential wheat rally, though the rally doesn't appear to be driven by demand but rather by supply-side concerns, including weather issues and geopolitical instability. The technicals are also playing a role, with certain resistance levels being tested, but the sustainability of any rally remains unclear. Weather will be a key factor moving forward, as unfavorable conditions could support higher prices. However, harvest pressure could offset some gains as more grain comes to market, especially if yields are strong.