Loading…
Spring wheat futures rose over 31 cents on the May contract to 615'0 as the US dollar weakened sharply. A USDA report raised US wheat carry-out to 846 mbu and global 2024/25 ending stocks to 260.7 MMT, while winter wheat good/excellent ratings fell to 48%.
Canola futures also rose to $660.70/MT after recovering from China's 100% tariff on Canadian canola meal and oil.
A higher-than-expected carry-out and weaker winter wheat conditions are mixed signals, but the weaker dollar and firm canola prices support wheat and oilseed values for feed buyers.
parrishandheimbecker-ag.comOksana PreachukApr 15, 2025After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
Not enough comparable past events yet for a historical read.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
After 47 past bearish report events, US Dollar (Broad) moved a median -0.2% over 5 sessions (34% higher; middle half -0.8% to +0.2%), and -0.7% over 20.
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.
