Market Report Update 4-24-17

Market Trends

Weekly Market Highlights

  • Minneapolis spring wheat futures prices are higher this week as little wheat has come to market and concerns increase as the potential size of this year’s crop may be decreasing.
  • Spring wheat planting is falling further behind last year and the recent five-year average due to continuing cold wet weather.
  • Winter wheat futures continued to decline. Basis premium prices are firm.
  • Concerns that recent beneficial rains across the winter wheat belt may limit the protein content in the new crop are keeping the basis at current levels. Following last year’s low protein crop, this is not a welcome scenario.
  • These factors are all familiar with a weather market, the kind we see every year at this time. U.S. wheat and flour prices are attractive, and supplies at home and abroad are very healthy.
 
Facts on Flour: Red or White? Perhaps a Blush?
 
The third major classification category for wheat is bran color – red vs. white. The difference in bran color between wheat types is simply a difference in genetic traits. In the United States we have seen a slight switch of usage from red wheat to white wheat over the past several years. The main reasons for this change? The farmer yields slightly more per acre (maybe 2-3 bushels), a flour miller can yield more flour per bushel and the taste is slightly “sweeter” compared to flour milled from red winter wheat. Recent focus on the nutritional benefits of whole grains makes the “sweeter” taste of white wheat a good alternative to the traditional red wheat flours for milling whole wheat flours,
especially for young consumers, or those who tend not to appreciate the flavor of a whole grain bread product.

Legacy Market News April 21

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