Front-month hard red spring wheat prices on the September 2018 contract in Minneapolis in July rose 12.5% to close at $6.06 USD per bushel. For December 2018 new crop soybean prices, the contract rallied 12.3% to close the month of July at $6.23 USD per bushel.
For our GrainCents readers, we’re watching a variety of factors that might affect spring wheat prices: 2 are bearish, 4 are bullish, and 5 are noise.
(If you’re not familiar with what “noise” is, then we recommend you check out our GrainCents risk management process towards spring wheat prices.)
This month, for GrainCents readers, we delved deeper into topics such as:
- Where spring wheat prices are headed going into the second half of 2018;
- The surprising jump in spring wheat production seen in the July WASDE report;
- Drought in major wheat producing regions of Ukraine;
- Smaller than expected wheat production in Australia;
- What precisely a smaller North Dakota spring wheat crop means.
With the weather and fallout from a global trade war creating volatile markets, it’s more important than ever to stay on top of the factors affecting spring wheat prices. Capture market premiums with GrainCent’s sales recommendations and actionable cash grain marketing advice delivered directly to your inbox.
Especially worthwhile in your GrainCents subscription is the Spring Wheat Weekly Digest, which gets sent out every Sunday morning. In addition to recapping our cash grain sales position, this chart-fueled read provides an insightful recap of the previous week’s activity in spring wheat markets. We also walk through, in detail, what we’re watching across the global market in the week(s) ahead that could influence spring wheat prices.
Start making more sense of what’s affecting spring wheat prices with a free three-week trial to GrainCents, our exclusive sales recommendation service that holds a 93% success rate on getting farmers the best price possible.