Loading…
The DTN national average HRW wheat basis has stayed well below its five-year average since late June. USDA's November WASDE raised global wheat supplies for 2016-17, and U.S. ending stocks rose to 1.143 billion bushels.
Global wheat production is forecast at a record 744.7 million tons.
Ample world and U.S. wheat supplies keep HRW cash bids weak relative to history, which pressures wheat values for feed buyers.
dtnpf.comMary KennedyNov 21, 2016Not 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.
