June 2018 Spring Wheat Prices Recap

The month of June saw spring wheat prices decline thanks to ongoing trade tensions between the United States and the rest of the world. The weather showed no signs of slowing down crop progress and crop quality continues to remain high across major growing regions.

Hard Red Spring Wheat Futures Price Recaps

This in mind, hard red spring wheat prices in the month of June alone lost 19% in Minneapolis. Also weighing on prices were bigger-than-expected acreage numbers in both Canada and the US.

Finally, a GMO finding in Southern Alberta basically all but killed the Canadian market, as spring wheat prices took a pretty good tumble on lower demand prospects. 

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.

This month, for GrainCents readers, we delved deeper into topics such as:

 – Weather issues in European wheat producing regions

 – The staggering rise of Russian wheat exports

 – The Federal Reserve’s decision to increase the US inflation rate

 – A decline in spring wheat ending stocks in the June WASDE report

 – Canada’s GMO wheat problem

 – StatsCan’s estimated spring wheat acreage in 2018/19

 – The USDA’s estimates for spring wheat acreage in 2018/19

Heading into the second half of the year, buyers and sellers of grain need actionable insight to make sense of ongoing trade tensions, supply and demand factors, and market behavior. We’re going to see a few wild swings in prices as the summer months progress, and you owe it to yourself to stay on top of the markets.

That’s why we’re offering 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.

Sign up right here for your risk-free trial.

About the Author
Brennan Turner

Brennan Turner is the CEO of FarmLead.com, North America’s Grain Marketplace. He holds a degree in economics from Yale University and spent time on Wall Street in commodity trade and analysis before starting FarmLead. In 2017, Brennan was named to Fast Company’s List of Most Creative People in Business and, in 2018, a Henry Crown Fellow. He is originally from Foam Lake, Saskatchewan where his family started farming the land nearly 100 years ago (and still do to this day!). Brennan's unique grain markets analysis can be found in everything from small-town print newspapers to large media outlets such as Bloomberg and Reuters.

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