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Oklahoma State economist Kim Anderson argues that USDA WASDE projections show 2018/19 wheat use exceeding production, leaving quality milling wheat tight. He says the market could be positioned for significantly higher prices if a price target and buyer emerge.
Projected global wheat use above production would tighten exporter supplies and push importers toward US HRW and HRS wheat, supporting prices.
farmprogress.comKim AndersonDec 6, 2018After 180 past bullish report events, KWHEAT moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.7%), and -0.6% over 20.
After 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
