Market Update 7-25-17

Colony Market Update

Weekly Market Highlights

  • Wheat futures and basis premium prices are lower this week.
  • Winter wheat futures fell sharply as harvest moves toward completion. Higher protein winter wheat basis fell sharply, but from such high levels, the impact was limited.
  • Some small pockets of protein in the hard red winter wheat crop revealed themselves in South Dakota, but maybe more importantly, it is thought plans for blending to compensate for lack of protein in this crop were formulated where possible, which stopped the sky high bidding and allowed the basis to fall back.
  • Hopeful forecasts for rain that might shrink the worst of the U.S. spring wheat drought stricken area materialize at the same time speculation is made that any rain that does come is too late to help.
  • The U.S. durum crop has deteriorated steadily throughout the past few weeks. Durum is becoming more scarce and more expensive.

Facts on Flour Flour Quality

The quality of flour is defined by its ability to consistently perform in the production of a finished baked good. The ultimate quality test is completed when the baker uses the flour.

Because there are a limitless number of baked goods that can be derived from single flour, it is an impossible task for the miller to test every application. Millers, therefore, rely on a few standardized baking applications. Tests are completed based on the application that best suits the particular flour.

Patent bread flours will be tested in pan bread, high gluten flours in hearth bread, cake flour in high ratio cakes, etc. The test methodology, formula, and conditions are all controlled and kept constant. The only thing that changes is the flour that is used.

The Miller will record such measurements as loaf volume, crust color, crumb color, texture, etc. This way the Miller is able to determine the effect of the flour on the performance of the finished baked good and make any necessary adjustment to maintain consistency.

Other tests that assist the Miller in determining flour quality will be discussed over the next several weeks.

Legacy Market News July 21

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