Weekly Market Highlights
- Wheat futures prices are slightly higher this week; basis premium prices seem firm overall.
- Futures continue to trade in a fairly narrow range without a lot of reason to move significantly higher or lower.
- A major crop concern somewhere in the world would need to develop in order to move prices far from their current levels.
- Spring wheat planting in the northern states continues to be on hold pending warmer, dryer conditions that will be more optimal for planting.
- Recent rains in winter wheat growing areas and plentiful wheat stocks at home and abroad have alleviated worries over significantly higher wheat prices. However, farmers will soon be too preoccupied to market much wheat, which could support the basis during planting season.
Facts on FlourHard and Soft
Another major classification category for wheat is kernel hardness. The wheat kernel often called a berry, will either
be of a hard or soft variety. The terms are very self-descriptive. Hard wheat has hard kernels and soft wheat has soft
kernels. Although it sounds simplistic, this difference is critically important to the functionality of the finished flour.
Hard wheat flours have the correct protein structure for yeast-raised goods: bread, bagels, pizza crust, etc. Soft wheat flour protein will not support yeast fermentation but is ideal for products using baking powder for the rising action. In future publications, we will discuss the difference between soft and hard wheat protein.
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