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The soft red winter wheat premium over hard red winter wheat remains at a historic inversion, reported as the widest spread analysts can recall. The spread peaked in mid-October, and USDA estimates suggest the coming winter wheat crop could be the smallest in 110 years.
An inverted SRW-HRW spread signals strong demand for Chicago-quality wheat, and analysts expect it to narrow as feed users substitute toward cheaper wheat, which would support feed wheat demand.
centralmoinfo.comStaff WriterNov 21, 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.
