Wednesday, June 30, 2010
Domestic Wheat Prices Drop
Prices of all classes of wheat dropped in the month of May. Hard Red Spring (HRS) plunged $24/ton to $238. The beginning of the harvest is pressuring Hard Red Winter (HRW) price, which declined $13/ton to $179. HRW also fell below Soft Red Winter (SRW), an unusual event. SRW declined $16/ton to $182. Technical market factors continue to keep SRW prices uncompetitive in world markets. Soft White wheat (SWW) declined $10/ton to $175, just slightly below HRW.