Wheat Hit Hard During Recent Commodity Sell-Off

As the end of February approached, there were unfortunate sell-offs in the markets, and not just wheat, but across all commodities. “Wheat has probably dropped the hardest,” said Jim Peterson, market director for the North Dakota Wheat Commission, explaining that February can be one of those periods when the market starts shifting into the 2023 outlook and moving off of old crop as one of the reasons for the sell-off. In other news, USDA held its outlook conference the third week in February and projected a pretty good rebound in corn acres and also wheat.