This month, we have discussed downward revisions for significant producers across Europe. These factors have helped push winter wheat prices higher and have fueled increased optimism for more gains going forward.
Front-month soft red winter wheat prices on the September 2018 contract in Chicago in July rose by 10.5% to close at $5.54 USD per bushel. For December 2018 SRW wheat prices, the contract rallied 10.9% to close the month of July at $5.73 USD per bushel.
Front-month hard red winter wheat prices on the September 2018 contract in Kansas City in July rose by 13.9% to close at $5.56 USD per bushel. For December 2018 HRW wheat prices, the contract rallied 14.2% to close the month of July at $5.84 USD per bushel.
For our GrainCents readers, we’re watching a variety of factors that might affect winter wheat prices: 2 are bearish, 5 are bullish, and 7 are noise.
(If you’re not familiar with what “noise” is, then we recommend you check out our GrainCents risk management process towards winter wheat prices.)
This month, GrainCents investigated topics such as:
- Where winter wheat prices are headed next in 2018;
- Rising winter wheat production, as shown in the July WASDE report;
- A bumper crop of the Spanish winter wheat crop;
- Ukrainian drought and downgraded winter wheat production expectations;
- What does less Australian wheat mean for domestic prices?
- Is this bullish factor the only hope left for 2018 grain prices?
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 winter 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 Winter 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 winter wheat markets. We also walk through, in detail, what we’re watching across the global market in the week(s) ahead that could influence winter wheat prices.
Start making more sense of what’s affecting winter 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.