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Wheat markets diverged in November 2016 on quality differences. March SRW and March KC HRW futures fell 31 and 22.25 cents respectively and hit fresh lows, while March Minneapolis spring wheat rose modestly for a third straight monthly gain.
The HRS/HRW spread reached $1.24 1/4 per bushel, its highest since March 2012.
Weak global wheat fundamentals are pressuring winter wheat, while higher-protein spring wheat holds up on quality demand. Feed buyers may find lower-protein wheat cheaper relative to premium milling wheat.
dtnpf.comCliff JamiesonNov 30, 2016Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
