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USDA estimates 2022/23 U.S. wheat production at 44.9 million metric tons, about 9% below the five-year average and the second lowest in 20 years. Hard red winter wheat yields fell significantly due to adverse growing conditions, and high prices have made U.S. wheat less competitive abroad.
A tight U.S. wheat crop and reduced export competitiveness support wheat prices, which affects feed wheat costs and substitution decisions for feed buyers.
uswheat.orgU.S. Wheat AssociatesNov 1, 2022After 180 past bullish report events, Wheat (HRW) moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.7%), and -0.6% over 20.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
