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Analysis of wheat price history notes that wheat futures roughly doubled from June 2019 to November 2021, with HRW shifting from a discount to a premium over SRW. World wheat stocks-to-use has fallen from 146 to an estimated 130 days of supply.
Tightening world stocks-to-use underpins the wheat price rally and suggests continued upward pressure on feed and milling wheat costs.
southernagtoday.orgJ. Mark WelchJan 24, 2022After 10 past bullish macro events, KWHEAT moved a median +0.8% over 5 sessions (60% higher; middle half -1.9% to +3.1%), and +1.3% over 20.
After 57 past bullish macro events, WHEAT moved a median +0.3% over 5 sessions (65% higher; middle half -0.5% to +1.7%), and -0.7% 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.
