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Oklahoma and Texas wheat prices are between $3.30 and $3.50 per bushel, down about $1.50 since early July, and a $5 price would need higher protein, test weight and lower world stocks. Forward contracts for 2018 harvest delivery are priced at $3.80 to $4.05 per bushel.
Low HRW protein and ample foreign supplies cap wheat prices, making a rally to $5 unlikely before July 2018. Feed buyers can expect continued cheap wheat relative to recent history.
farmprogress.comKim AndersonOct 20, 2017Not 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.
