- Wheat futures prices are slightly lower again this week. Basis premium prices remain firm to higher.
- Row crop harvests are nearly complete; if producer selling picks up, we could see some downward pressure on wheat prices.
- The U.S. continues to lose export sales to competitors due to price despite smaller than normal harvests in countries like France.
- Wednesday’s USDA reports contained some bearish inputs surprising the markets with better U.S. corn yields.
- Prices could remain fairly consistent for the near future.
Facts on Flour
In the 1930s, nutritional surveys conducted by the Department of Agriculture revealed widespread nutritional
deficiencies of thiamin, riboflavin and niacin (B vitamins) in the American diet. These findings prompted the
fortification of certain staple foods. The Food and Nutrition Board recommended a program for fortifying white flour
and white bread with thiamin, riboflavin, niacin and iron, with calcium and vitamin D as optional.
In May 1941, the flour enrichment standards were issued and finally adopted in 1943. The standards were recently
changed, and as of January 1, 1998, enriched flour now also must contain folic acid. The enrichment of flour has no
affect on its baking performance or caloric value.