Thursday, September 2, 2010
Prices of all Classes of Wheat Increase
Domestic prices: Prices of all classes of wheat surged in July as expanding export prospects were being spurred by the severe drought in Russia and Kazakhstan and reduced crop prospects in the EU and Ukraine. Hard Red Winter (HRW) jumped 41 percent to $268/ton, and Hard Red Spring (HRS) is also up 24 percent to $312/ton, as global import demand for U.S. hard wheat is expected to expand. Soft White Wheat (SWW) surged 51 percent to $271/ton primarily due to lower available Australian supplies at the end of the season.