Weekly Market Highlights
- Wheat futures and basis premium prices are higher this week.
- Markets seem to be reacting to unhelpful news of early harvested low protein winter wheat averages and more unneeded, untimely rain forecast for much of the nation’s wheat crops.
- The protein content of this year’s winter wheat crop is crucial as last year’s crop lacked protein. We are not off to a good start against this measurement, although early yield reports have been positive.
- Oklahoma’s wheat harvest has been delayed by Monday night’s storms, which likely also have damaged some of the crops.
- Futures may not continue to find much support, but we expect the basis may continue to increase until the markets are more certain we will see a decent supply of wheat with the protein millers require.
Facts on Flour: Durum Wheat
Most of the durum wheat grown in the U.S. is produced in the northern Plains, with 70 to 80 percent grown in North
Dakota alone. Durum wheat is milled into a granular product called semolina, which is used primarily for pasta products in the U.S. Other uses of semolina include couscous and bread products.
Pasta products from durum are superior because of the desirable golden color and nutty flavor, and because they hold their shape and firm texture when cooked. A by-product of semolina production is durum flour, which is used in bread and pre-cooked pasta products.
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