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Barchart analyst Darin Newsom argues Kansas City HRW wheat is technically bullish after the Barchart HRW index completed a monthly bullish reversal in March. Inverted 2023-24 futures spreads and noncommercial buying are cited as fundamental support.
This is opinion-based price commentary rather than a new supply event, but it signals fund support for HRW values. The price view is bullish for HRW wheat.
barchart.comDarin NewsomApr 11, 2023Not 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.
