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Kansas City wheat futures rose above $4.70 per bushel for the first time since August, with record one-day volume in the contract. Only 14% of the Kansas, Oklahoma and Texas HRW crop was rated good or excellent.
Natural gas also spiked on cold-weather forecasts before falling back.
Poor HRW ratings and heavy speculative trading support wheat prices and make HRW a costlier feed option. Wheat's price strength can also shift feed-grain substitution decisions.
journalgazette.netWALT, ALEX BREITINGER, Breitinger, Sons LLCFeb 2, 2018Not enough comparable past events yet for a historical read.
Not 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.
