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An Oklahoma State extension article reviews the May WASDE, which projects 2022/23 world wheat production of 28.5 billion bushels and use of 28.9 billion. Ending stocks fall from 10.3 to 9.8 billion bushels, giving a stocks-to-use ratio of 34% against a five-year average of 35%.
Stocks-to-use falling below average signals a tighter balance that supports prices, although the report suggests supply still covers demand overall, with bread-wheat classes tighter than the rest.
farmprogress.comKim AndersonMay 17, 2022After 769 past bullish report events, WHEAT 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.
