Wheat is a type of cereal grain that is widely cultivated and consumed around the world. It is a staple food for a large portion of the global population and is used in a variety of food products, including bread, pasta, and cereal. The demand for wheat is consistently high, making it a crucial commodity in the agriculture sector.
Investing in wheat stocks can provide investors with exposure to the performance of the global wheat market. Wheat companies, such as grain traders, millers, and farmers, can benefit from rising demand and prices for wheat. Additionally, companies specialize in the production and distribution of wheat-based products. For example, bread and pasta can also benefit from a growing demand for these products.
However, it is important to note that investing in wheat stocks can also come with some risks. Weather conditions, such as drought and excess rainfall, can greatly impact crop yields and the supply of wheat. In addition, changes in government policies, trade restrictions, and shifts in consumer preferences can also impact the demand for wheat. Which in turn, can impact the performance of wheat stocks. As with any investment, it is important to carefully consider these risks and conduct thorough research before investing in wheat stocks. Considering this, let’s take a look at two wheat stocks for your 2023 stock market watchlist.
Wheat Stocks To Watch Today
1. Deere & Company (DE Stock)
First up, Deere & Company (DE), also known as John Deere. In brief, the company is a global agriculture and construction equipment manufacturer. The company’s portfolio of products includes tractors, planting equipment, and other machinery for large-scale farming operations.
DE Recent Stock News
At the beginning of this month, Deere & Company released its 2022 Sustainability Report highlighting its progress in delivering sustainable solutions for its customers, employees, dealers, suppliers, shareholders, and support communities. The report outlines the company’s progress towards its Leap Ambitions, focused on making the company and its customers more efficient, profitable, and sustainable.
In detail, Deere achieved a 29% reduction in operational greenhouse gas emissions and increased its waste recycling to 84%. The company is investing in alternative power solutions, such as electrification and biofuels, and has committed to science-based greenhouse gas reduction targets, as part of its goal to reduce its environmental impact.
DE Stock Chart
Over the last six months of trading action, shares of DE stock are up 19.50%. Meanwhile, as of Monday’s mid-morning trading action, DE stock is trading higher by 1.11% on the day, trading at $410.26 a share.
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2. Archer-Daniels-Midland Company (ADM Stock)
Next, Archer-Daniels-Midland Company, or ADM, is a global agricultural processing company that focuses on the production of food, feed, and industrial products. With a vast network of processing plants and storage facilities around the world, ADM is a large player in the global agribusiness industry.
ADM Recent Stock News
Late last month, Archer-Daniels-Midland reported its fourth-quarter 2022 financial results. Diving in, the company announced earnings of $1.93 per share and revenue of $26.2 billion. The company exceeded expectations, with the consensus earnings estimate being $1.64 per share and revenue of $25.3 billion. ADM experienced a 13.6% increase in revenue growth versus the same period a year prior.
Meanwhile, Chairman and CEO Juan Luciano commented, “ADM delivered another very strong quarter to complete an outstanding year, and the strategic work we have done throughout 2022 has positioned us well for 2023 and beyond.“
ADM Stock Chart
Year-to-date, ADM stock is trading lower so far by 7.96%. Furthermore, as of Monday’s mid-morning trading session, shares of ADM stock are trading modestly higher on the day by 0.30% at $82.52 a share.
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