Chicago Wheat Commodity Markets, Prices & Futures
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Latest News From Chicago Wheat
Biden administration wants more total planted acres with a focus on soybeans and wheat. That is the clear conclusion from what the administration is proposing as part of its latest wish list for Congress.
Blood on dirt and bone over iron. In 1950, Jessie Small jumped on a John Deere combine and drove into the pages of farming history.
An American farming titan, Jessie Small, the king of combines, has passed on, and with him goes a sizable chunk of U.S. historical lore.
Prices have cooled from 14-year highs, but interest remains high for farmers to increase wheat acres or add the crop back to their mix.
Wheat producers rely primarily on public sector research for crop breeding improvements. A new GMO wheat incorporating drought tolerance has been approved for planting in Argentina, but not yet produced for market.
“There are still more questions than answers, but we did get a vessel out the door,” says Dan Basse, president of AgResource Company.
U.S. estimates show global wheat levels are stockpiled at 33% of annual consumption. Gro Intelligence says the world’s numerous economic crises prove government estimates are “not adding up.”
With little to no diesel readily available to fuel harvest, wheat and other grains languish in the country’s fields. One analyst says he expects the global wheat market will be shorted 10 million metric tons.
The start of summer also ushers in the steady rhythm of wheat harvest across the plains. What typically is picture-perfect setting of beauty from amber waves of grain is one that shows the scars of drought.