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Oklahoma State analysis says 2020 wheat can be forward contracted at $4.00 per bushel for June delivery, based on July 2020 Kansas City futures at $4.40 and a 40-cent basis. World wheat production is a record 28.128 billion bushels and projected ending stocks are a record 10.5 billion, a 36% stocks-to-use ratio.
Record world supplies and high stocks-to-use keep wheat prices subdued, making wheat an inexpensive feed grain option for buyers.
farmprogress.comKim AndersonSep 23, 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.
