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Oklahoma State's Kim Anderson reports Oklahoma wheat forward contract prices near $8 per bushel and a trading range of about 55 cents recently. The article cites a record world wheat crop of 28.7 billion bushels and US hard red winter ending stocks projected at 274 million bushels.
Tight US HRW stocks against a record world crop create a split balance, supporting HRW prices while abundant world supply caps broader gains.
oklahomafarmreport.comSpencer AndersonJan 27, 2023After 40 past neutral report events, Wheat (HRW) moved a median -0.9% over 5 sessions (38% higher; middle half -3.1% to +1.6%), and -0.5% over 20.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% over 20.
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.
