# Longer term demand curve favors wheat, just not now

> Montana State University economist Anton Bekkerman says bumper wheat crops in the Great Plains and globally, with US winter wheat at 51.3 bushels per acre and Russia reportedly at 71, have overwhelmed record inventories. Lower 2016 prices cut winter wheat futures by nearly $1.00 a bushel from September 2015 levels, while he sees longer-term opportunities for 2017.

- Date: 2016-12-04 · published 2016-12-04T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/73544-longer-term-demand-curve-favors-wheat-just-not-now
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Oversupply from record yields in key exporters keeps wheat prices depressed in the near term, which favors buyers, though longer-term demand may support recovery.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2016-04-18 | [Corn and wheat will drop to 10-year low](https://feedsoft.ai/events/10297-corn-and-wheat-will-drop-to-10-year-low.md) | -0.5% | +3.0% |
| WHEAT | 2019-10-08 | [The increase in wheat prices reduces demand](https://feedsoft.ai/events/5902-the-increase-in-wheat-prices-reduces-demand.md) | +4.5% | +2.1% |
| WHEAT | 2021-01-21 | [Favorable Weather and Strong Income Support Winter Wheat Seeding](https://feedsoft.ai/events/49196-favorable-weather-and-strong-income-support-winter-wheat-seeding.md) | +4.0% | +2.4% |
| WHEAT | 2019-08-29 | [Germany expects larger wheat crop despite heatwave \| The Western Producer](https://feedsoft.ai/events/57529-germany-expects-larger-wheat-crop-despite-heatwave-the-western-producer.md) | -3.2% | +0.5% |
| WHEAT | 2023-01-17 | [Demand for U.S. Soy Remains Strong Near Term - U.S. Soybean Export Council](https://feedsoft.ai/events/10666-demand-for-u-s-soy-remains-strong-near-term-u-s-soybean-export-council.md) | -3.8% | +0.5% |
| KWHEAT | 2021-01-21 | [Favorable Weather and Strong Income Support Winter Wheat Seeding](https://feedsoft.ai/events/49196-favorable-weather-and-strong-income-support-winter-wheat-seeding.md) | -0.0% | -0.0% |
| KWHEAT | 2023-06-09 | [Wheat bears follow June WASDE](https://feedsoft.ai/events/35448-wheat-bears-follow-june-wasde.md) | +1.0% | +0.7% |
| KWHEAT | 2023-07-12 | [Wheat, Soybean Carryover Larger Than Expected \| Red River Farm Network](https://feedsoft.ai/events/34983-wheat-soybean-carryover-larger-than-expected-red-river-farm-network.md) | +1.1% | -5.8% |

## Sources

- farmprogress.com: https://www.farmprogress.com/soybean/longer-term-demand-curve-favors-wheat-just-not-now

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.