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USDA's December 28 Agricultural Prices report put the November average farm price of all wheat at $4.73 a bushel, up 9 cents from October and up 85 cents year on year. Winter wheat averaged $4.07, down 10 cents from October, while hard red winter rose 2 cents to $3.84.
Higher November farm prices reflect firmer cash wheat values after the earlier contract lows, which raises the cost of wheat used in feed rations and supports feed wheat substitution decisions.
world-grain.comRon SterkDec 29, 2017After 180 past bullish report events, Wheat (HRW) 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 (SRW) 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.
