# 2020 wheat forward contract basis fair, price may be low

> 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.

- Date: 2019-09-23 · published 2019-09-23T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/57119-2020-wheat-forward-contract-basis-fair-price-may-be-low
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Record world supplies and high stocks-to-use keep wheat prices subdued, making wheat an inexpensive feed grain option for buyers.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Sources

- farmprogress.com: https://www.farmprogress.com/wheat/2020-wheat-forward-contract-basis-fair-price-may-be-low

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.