WHEAT WOES
“Leftovers” isn’t a term that generally gets one’s heartrate up. However, from a market outlook perspective, the “leftovers” from the previous year (referred to as the “ending stocks” or “carryout”) is of critical importance. In many ways, it can be considered the most important number on the supply and demand balance sheet. Analysts and traders rely heavily on ending stocks when trying to determine where prices may go. This is an important reminder when trying to make sense of wheat price activity over the past several months.









