Growers With Wheat In A “Good Position”

If you have wheat to sell, then for you are sitting in a good position. USDA Outlook Board Chairman Mark Jekanowski said futures prices, of course, for wheat, certainly remarkable.

"Across all the classes, soft red winter, hard red winter, spring wheat; there all at 10 year highs, or more than 10 years."

And what's driving those wheat prices?

"Supplies have been getting tight.  We saw that here in the U.S., as well with our spring wheat crop, because of drought, and then, of course, that extends up into Canada, as well.  So Canada's crop was reduced quite a bit this year and there were production problems.  The flax seed region in Russia and Europe had some less than ideal conditions, as well."

And demand for wheat, he noted, has been very high. Jekanowski's outlook board will put together a new forecast for wheat supply and demand and price, which will be released Tuesday 9 a.m. [Pacific].

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