Wednesday, May 26, 2010
Domestic Prices Trend Downward
Prices of all classes of wheat dropped dramatically through August and continued easing through September. However, Hard Red Spring (HRS) prices started to escalate as quantities of high-quality spring wheat were limited. White Wheat prices actually fell below Soft Red Winter prices as Australian supplies hit the market. Strong futures prices for Soft Red Winter kept U.S. wheat uncompetitive in global markets. Other than Hard Red Spring, wheat prices have been relatively stable over the last three months.