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Wheat Quality Council scouts estimated average Kansas yield at 47.6 bushels per acre on the second day of the HRW tour, up from 35.2 last year. Scouts found fields well above last year's yields despite dry topsoil, disease and nutrient deficiencies.
Many fields were sprayed out for abandonment, suggesting harvested area could fall below planted acres.
Higher expected Kansas yields add to supply, but abandonment could offset some of the gain. Net effect on HRW prices depends on final harvested area.
dtnpf.comEmily UnglesbeeMay 2, 2019After 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% over 20.
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.
