Weekly Market Highlights
- Wheat futures prices are higher since our last communication two weeks ago.
- Basis premiums for hard red winter wheat are higher. Spring wheat premiums are mixed.
- Two seasonal concerns are dominating discussions focused on wheat and flour prices. One is the growing possibility for yet another low protein hard red winter wheat crop in the U.S. The second is the potential for dry conditions in spring wheat growing areas to continue or worsen, threatening to further reduce the size of harvest after fewer acres were planted this spring.
- There is much winter wheat yet to be harvested, so it remains to be seen how low the average protein of this crop will be. However, millers and bakers who require higher protein content may be forced to continue to pay high premiums.
- Spring wheat prices are rising due to the dry growing conditions, and because it can be added to winter wheat blends in order to increase the protein in the mix.
Facts on Flour Hard White Wheat
Hard White Wheat is the newest class of wheat to be grown in the United States. Closely related to red wheat (except for color genes), this wheat has a milder, sweeter flavored bran, equal fiber and similar milling and baking properties.
Hard White Wheat is mainly used in yeast breads, hard rolls, bulgur, tortillas and Oriental noodle.
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