Wheat vs Corn

[ag-?]

I am wondering how balance sheet looks for various commodities with current prices for wheat and what corn is

selling for now. It looks to me that wheat is valued under corn now and cann't help being used as feed. So my premise is

  the markets haven't figured out that wheat is being consumed internally in the US much faster than being shown on

various government reports. While the market is looking at world export picture seeing that Russia is back into the market

so US has more competition but all the while here in the US additional stocks are being converted to feed instead of looking for export home. Also this year were going to see crop that is much out normal for harvest  both for spring wheat and corn with it being harvested

much later that normal because of late planting. This will harder for market to get handle on final ending stocks.  I think were going to end up with very tight carryout figures for both corn and wheat and the markets will have done very little in rationing supplies until very end.

[dafeeder]

I would think a lot of wheat will be fed to Cattle and Hogs in OK, SW KS, and Texas area, not to mention other areas of the world where corn is high priced.  Up to 30% of the ration should work.  Do Ethanol plants every use much Wheat?

[dafeeder]

Don't you think the heat has moved some harvest dates forward?

[JRfrom OR]

Ag,  I have to agree, wheat must be being substituted for corn at record rates.  Agrimoney ran an article a few days ago to that effect.  I do know that my SW will be going all feed this year.  It would be interesting to see real data on how much wheat is being fed. 

The buffer that wheat has provided us recently could be jeopardized, this is something to try to keep an eye on.

[Palouser]

Globally Australia, and now Ukraine are providing a lot of feed wheat due to weather damage.

[pritchh]

Large amounts of wheat go to feed annually. Wheat is grown
all over and by nature many areas don’t have ideal conditions  so much is poor quanitity.

The C W spread helps extra here.

In DE poultry is getting 10% srw