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Successful Farming reports US winter wheat planted acreage is the lowest in 99 years as low prices push Kansas farmers toward corn and sorghum. Farmer Greg Stone expects US wheat acres to keep declining as foreign producers expand.
Shrinking US wheat acres reduce future domestic wheat supply and could support prices, while shifts toward corn and sorghum change feed grain balances.
agriculture.comTony DreibusMar 26, 2018After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
Not enough comparable past events yet for a historical read.
After 10 past bullish macro events, Wheat (HRW) moved a median +0.8% over 5 sessions (60% higher; middle half -1.9% to +3.1%), and +1.3% 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.
