Wheat Spread goes bye bye

March 28, 2022

Top 3 – Things to Watch this week:

1. Global Fertilizer production / global yields. This is going to impact global production. Not sure on when or how much, but probably in the summer.

2. China Covid Outbreak. Locking down cities.  This is going to cause huge supply chain issues.

3. USDA Thursday’s  march 31 Prospective Plantings. This one is important. Gives indication on how many acres of soybeans and corn will be planted

This week’s Action Item:

Make sure you have as much inputs as you possibly can on the farm.

This week’s Chart:

The Traditional Spreads between the 3 wheat futures has been eliminated. These means there is upside potential for HRS wheat for new crop. The market is focused on winter wheat right now.