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Oklahoma economist Kim Anderson explains that 2024 harvest-delivery wheat forward contracts in Oklahoma and Texas are trading about $0.65 below the 15-year average of $5.85. Stocks-to-use ratios point to average or above-average prices, and Russian export dumping is cited as a possible reason for the discount.
Heavy Russian export supply is pulling forward wheat bids lower despite balanced stocks, which keeps feed wheat economics cheap relative to history. Buyers can expect continued discounts unless Black Sea exports slow.
farmprogress.comKim AndersonMar 28, 2024Not 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.
