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Minneapolis spring wheat futures traded at a premium of over $1.25 to Chicago and Kansas City wheat, with the spread about 40 percent versus a normal 15 percent. Analysts said the strength reflects tight supply of high-protein milling wheat rather than speculation.
Buyers on the export side are starting to resist the high prices.
Tight supply of high-protein spring wheat supports prices for that class, but resistance from export buyers could cap the rally. Feed buyers may see less benefit from this premium than milling buyers.
brownfieldagnews.comMark DorenkampDec 7, 2016Not 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.
