Weekly Market Highlights
- Kansas City wheat futures prices were steady to a bit higher this week as spring wheat futures prices fell.
- Friday’s USDA reports held no surprises for wheat and have had a somewhat stabilizing effect on wheat futures markets.
- The market’s major focus will be on weather in the coming months. Recent rains have markedly improved winter wheat conditions in areas that were very dry over the winter.
- North Dakota spring wheat planting season has begun. The USDA rated the 2017 winter wheat crop at 51% good to excellent, about nine points behind last year, but improving following the beneficial rains.
- Thoughts are that if winter wheat can avoid major freezing in the next several weeks, futures prices would struggle to find reasons to rally.
Facts on Flour: What’s Your Favorite Season?
Growing season is one of the major classification categories for wheat. There are two distinct seasons: winter and spring. Winter wheat is planted and begins growth in the early autumn. As winter rolls in, the growth is halted and the plant remains dormant until spring when it resumes its growth.
This crop is harvested in late spring through early summer. Spring wheat is grown in areas where the winters are too cold for winter wheat to survive. Spring wheat is planted in the spring and harvested in late summer to early fall. Spring wheat will generally have a higher protein content than winter wheat. Winter wheat flours, when compared to spring wheat, tend to have a more “mellow” protein structure.
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