Wheat Market Update

The wheat market has bottomed for now and is moving into a sideways trading pattern. The main influences for the near-term are money flow, corn, and weather.

There is the potential for wheat supplies to end up tighter than current estimates as 2023 unfolds. However, wheat will struggle to shrug off global economic uncertainty and bearish outside markets. It looks like the downtrend has stalled for now, and that prices will drift sideways until new information surfaces.

Let’s look at recent developments and ho…