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A Red River Farm Network analyst said spring wheat production estimates kept falling because of heat stress, and that USDA may not have fully accounted for abandonment in the northern US. He described a tight supply of high-quality protein milling wheat, with other wheat classes beginning to follow.
A tightening supply of high-protein wheat and spreading strength across classes support wheat prices and bid up milling-quality grain.
rrfn.comCarah HartJul 18, 2021Not 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.
