MARCH 22, 2024 – Every once in awhile I see something not typically on your radar. This time it is Wheat futures.
In March 2022, the December 2024 futures peaked at about 1425. The same futures bottomed in early March at about 565. Assuming this is the Bear Market bottom, Wheat declined 60% in two years.
I expect Wheat prices to increase significantly over the next 12 months. I will revisit this at yearend to see how things turn out.
As an aside, no need to rush out and store up on bread:)
Shalom,
The Mann