Looking at the Wheat Market

03:23PM Sep 19, 2019
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USDA says 76 percent of the U.S. spring wheat crop has been harvested out of the six top producing states. That’s double-digits below the 5-year-average. Winter wheat is getting planted as well.

“I’m friendly [with] wheat in general,” said Brian Splitt of AgMarket.Net.

If reports hold true, wheat acres keep decreasing.

“We’ve had the July Kansas City wheat contract is trading on $4.20 a bushel, which is the lowest value for a new crop contract prior to planting since I think about 2006,” said Splitt.

Splitt believes we’ll potentially have another reduction in wheat plantings.

Clinton Griffiths talks with Splitt about the wheat market.

Winter Wheat and the Markets 091919