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An Ehmke Seed commentary argues that high wheat prices, now more than double the $5 level of recent years, will not necessarily lift Kansas wheat acreage. USDA's prospective plantings put all-wheat acreage at 47.4 million acres, the fifth lowest since 1919.
Corn and milo prices have also risen, and the author says wheat remains the least profitable crop in K-State budgets.
Low expected US wheat acreage limits supply growth and supports wheat prices, while competing sorghum and corn plantings also keep feed grain supplies tight. This is a structural view rather than a new supply shock.
ehmkeseed.comVance EhmkeJul 6, 2022Not enough comparable past events yet for a historical read.
Not 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.
