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AgWeb's 2022 wheat outlook says US wheat acres have declined for a decade, with USDA projecting 44.5 million acres by 2030/31. A significant portion of US wheat acres was in drought as of mid-December, and Canada's premium wheat stocks were higher than expected.
Shrinking US acreage and drought stress on the spring wheat crop support a firmer medium-term wheat balance. Feed buyers may see wheat competitive with corn only if prices stay in check.
agweb.comSara SchaferDec 17, 2021After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% over 20.
After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
