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US high-protein wheat supplies are tight after HRW production fell 32% to 20.4 million metric tons. Protein premiums for hard red spring and hard red winter wheat are elevated, with only about 9 MMT of HRW above 12.5% protein.
Tight high-protein supplies raise premiums for HRW and HRS, increasing the cost of higher-protein wheat used in feed formulations.
uswheat.orgNov 2, 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.
