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Oklahoma and Texas forward contract prices for 2019 harvest wheat are about $4.32 at Burlington and $4.17 at Perryton, well below last year. KC July 2019 futures were around $4.47 at writing.
Lower-than-expected forward prices despite projected 2019 world hard wheat stocks falling 24% suggest the domestic market is eager to buy new-crop wheat, a signal that feed wheat alternatives may remain cheaply priced.
proag.comMar 11, 2019Not 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.
