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DTN analyst Todd Hultman argues wheat prices are depressed by speculative short positions despite USDA reporting U.S. wheat stocks at a 15-year low. Cash wheat prices sit well below USDA's estimated production cost of $9.03 per bushel.
Fund short positions suppressing prices could reverse sharply, which would tighten wheat supply and lift feed-grain costs if commercial buying dominates.
ukragroconsult.comJan 25, 2023Not 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.
