Loading…
DTN reports that US winter wheat plantings are about 31.5 million acres, the lowest in over 100 years, with Kansas at its lowest since 1910. Abandoned acres are projected at 8-10%, and the DTN HRW cash index fell to $3.77, about 27% below USDA's estimated production cost.
Historically low acreage and high abandonment reduce US wheat supply, which supports prices, but cash prices well below production costs are squeezing inputs and could cut yields. The tight US supply outlook is bullish for HRW wheat.
dtn.comShaun OppMay 10, 2019Not 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.
