South central kansas | IN555 - 10/31/2023 09:34
Just giving you wheat growers a hard time but noticed this morning some local bids that cash wheat is approaching cash corn price. Bids in December are within 30 cents locally. I can't remember the year but wasn't there a period in the last 10 years that wheat actually got cheaper then corn? If so how long did it last and what type of move up did wheat have following? I don't grow wheat and don't spec trade it but at some point this spread will go the other way and might need taken advantage of.
For what it is worth, the USDA in their latest WASDE, increased wheat (primarily SRW) feeding by 30 million bushels.
WASDE increased U.S. wheat for feed 30 million bushels vs. September to 120 m.b.; wheat for feed has not > 100 m.b. since CY ending 2017. Note SRW outperforming Corn today
Edited by zenfarm 10/31/2023 09:58
|
Grow wheat, sleep in the street
