Kansas City wheat scored record highs on Tuesday, exceeding the highs set in 2008. The rally has been driven by world and U.S. production issues, as U.S. winter wheat crop ratings were on 27% G/E this week and the lowest since the drought in 1989. However, India’s ban on exports, the lack of Black Sea exports due to the war,, and the slow planting pace on spring wheat at 39%, have also pushed Chicago and Minneapolis wheat into new contract highs. Michelle Rook talks to Randy Martinson of Martinson Ag about where the market is headed from here.
Wheat Market Makes Record Moves
Kansas City wheat scored record highs on Tuesday, exceeding the highs set in 2008.
Related Stories
Arlan Suderman, chief commodities economist with StoneX, says the additional cut in winter wheat acres was a surprise but there were others as well.
Mike Zuzolo, Global Commodity Analytics, says grains were pressured by a host of factors including weather and fund liquidation.
DuWayne Bosse of Bolt Marketing says the trade action Friday was disappointing in corn and soybeans after key reversals on Thursday.
Read Next
Incredibly surviving the Civil War, world wars, depressions, epidemics, and every milestone for two centuries, the Taylor gathering may be the oldest reunion on the planet.
