# Happy New Year to Winter Wheat

> DTN reports the 2022-23 hard red winter wheat basis ended below its five-year average, though better than the prior year. USDA had cut 2022 winter wheat output 14% after drought in Kansas and Oklahoma, and seeded HRW area for 2023 is 25.3 million acres, up 10%.

- Date: 2023-06-12 · published 2023-06-12T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/35526-happy-new-year-to-winter-wheat
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Larger 2023 HRW seedings point to more supply ahead, which tends to weigh on cash and futures prices if weather holds.

## Read by commodity

- KWHEAT: neutral

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/columns/cash-market-moves/article/2023/06/12/happy-new-year-winter-wheat

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.