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Kansas City wheat futures have traded at an unusual discount to Chicago wheat since 2019, with the March 2020 KC contract at a 75-cent discount and December 2020 at 65 cents. The spread tracks HRW production relative to SRW production, which has been historically small for SRW in recent years.
The market's wide KC-Chicago discount signals continued tightness in Chicago wheat relative to HRW, supporting SRW prices through 2020.
cmegroup.comJan 13, 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.
