Weekly Market Highlights
- Spring wheat futures continued to slowly chop lower this week, while winter wheat futures are slightly higher. Basis premium prices are firm overall as producers and elevators are concentrating on row crop harvest.
- Recent USDA forecasts pegging hard red winter wheat carryover down 22%, and hard red spring wheat down 38% chipped away at one input that has kept wheat and flour prices low over the past few years. Early indications are that farmers don’t intend to increase wheat planting this fall. Montana has received some much-needed rain at last; hopes are this will help their winter wheat crop.
- Wheat and flour prices overall have fallen steadily since early July’s peak. Prices feel supported at these levels; news of crop issues in other wheat-growing countries could support higher prices.
Facts on Flour
The standard of the winter wheat flours, King wheat is widely used in bakeries from the largest wholesaler to the smallest retailer. It has very good tolerance and is recommended for all types of yeast-raised products.
Description: A high quality malted flour milled from a selected blend of Hard Red Winter Wheat, King wheat is available bleached or unbleached.
Uses: Pan breads, soft rolls, sweet goods, thick crust pizza.
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