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Kansas wheat storage piles persist after the record 2016 harvest because futures failed to converge with cash prices at delivery elevators. Futures traded 50 cents to $1 above cash during the July 2016 delivery period, and Kansas economists are studying solutions.
Elevators storing wheat for warehouse-receipt value keep grain off the cash market, tightening local supply for buyers while widening the futures-cash gap.
farmprogress.comWalt Davis 1Jan 18, 2017Not 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.
