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As of June 14, the US winter wheat harvest was 15% complete, matching the five-year average. Since June 4, July HRW futures have closed lower in eight of nine sessions and hit a 12-week low on June 17, while July HRS has been firmer.
The widening HRS premium over HRW suggests buyers are paying up for higher-quality spring wheat, which can support spring wheat and pressure HRW values if the trend persists.
dtnpf.comCliff JamiesonJun 17, 2020Not 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.
