USDA wheat supply estimate down 7M bushels vs June; shortage resembles 2022. Lower supply should push wheat prices higher, benefiting leveraged wheat ETF calls. Long-dated WEAT calls are a speculative bet on a wheat price spike. USDA revisions, weather improvement, global supply shifts, ETF contango/decay.
USDA wheat supply estimate down 7M bushels vs June; shortage resembles 2022. Lower supply should push wheat prices higher, benefiting leveraged wheat ETF calls. Long-dated WEAT calls are a speculative bet on a wheat price spike. USDA revisions, weather improvement, global supply shifts, ETF contango/decay.