Loading…
The HRS/HRW monthly spread traded at 82.5 cents, near resistance at 84 cents, reflecting demand for higher-protein hard red spring wheat. Wheat futures fell 6 to 9.5 cents in the nearby July contracts across North American markets on Monday.
Global wheat ending stocks are expected to hit a record in 2016/17.
Strong protein premiums support hard red spring wheat, but record global stocks keep the broader wheat outlook weak. Feed buyers face little near-term price pressure from this spread.
dtnpf.comCliff JamiesonJun 21, 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.
