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Surging corn prices have narrowed wheat's premium, so hard red winter wheat is being sold to cattle and hog feeders for July to September shipment. USDA recently projected about 140 million bushels of wheat for domestic feed and residual use in the 2019/20 season, nearly triple last year.
Wheat substituting for corn in feed rations raises feed wheat demand and supports wheat prices while corn remains tight.
ttnews.comMichael HirtzerJun 26, 2019Not enough comparable past events yet for a historical read.
Not 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.
