Loading…
Investing.com commentary notes wheat prices hit record levels this marketing year and USDA's first projection shows 2023 US winter wheat plantings at 37 million acres, up 11 percent to the highest since 2015/16. US wheat export commitments trail the prior year, at 71 percent of the estimated marketing-year total.
A larger US winter wheat area points to more future supply and pressures prices, while lagging export commitments suggest demand is softer than last year.
investing.comJan 30, 2023After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% 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.
