Tight Ending Stocks Should Send Wheat Higher

Tight ending stocks should send Wheat higher: Wheat bulls received some positive news from the USDA this morning, with US Wheat ending stocks estimated to be 447 million bushels for the 2006-07 crop year. The estimate was below average analysts' predictions of 465 million bushels. If true, this would be 18% lower than the previous year's total. Lower Wheat production is the reason for the decline, with expectations of the 2006-07 crop to total 1.873 billion bushels-well below last year's 2.105 billion production. Read More....