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Kansas hard red winter wheat prices hit a low of $3.81/bu in September, the lowest December contract in over ten years, before recovering above $4/bu. The HRW premium over corn narrowed to 11c/bu, below the normal 50c to $1.50 range, as global wheat stocks stay heavy.
A narrow HRW premium over corn makes wheat more likely to replace corn in feed rations, which caps HRW values while global oversupply persists.
czapp.comJolyon HobbyDec 9, 2019Not 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.
