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US year-end wheat stocks are ballooning, with USDA forecasting hard red winter stocks at 408 million bushels for 2024-25. Wheat futures have fallen roughly 10-15% since mid-February while Europe and Russia crop prospects improve.
Heavy US carryout and better Black Sea and EU crops keep wheat supplies ample, capping feed wheat prices and making wheat a cheaper feed substitute for corn; a corn shock would be needed to lift wheat.
producer.comD'Arce McMillanApr 29, 2025Not enough comparable past events yet for a historical read.
Not 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.
