May 2018 Spring Wheat Prices Recap

It was a solid month for spring wheat prices. They pushed higher thanks to delays in planting, quality concerns, and questions about the weather heading into the summer.

Here’s a breakdown of the action on spring wheat prices and contracts in Minneapolis that we’re watching this month:

  • May 2018: +6.8% or 39.3¢ to $6.178 USD / bushel
  • July 2018: +4.9% or 29¢ to $6.155 USD / bushel
  • Dec 2018: +4.2% or 25.5¢ to $6.325 USD / bushel
  • Mar 2019: +4.3% or 26.3¢ to $6.448 USD / bushel

 

In May, for spring wheat prices, it was all about the weather.

Dryness has already fueled a downturn in yields in key production regions around the globe. One of those areas to focus on is obviously Western Canada.

But if you follow the mainstream press, this is probably all that you heard about. Our GrainCents subscribers received a wealth of insight this month. We focused on a number of factors, including:

 

Be sure to sign up for your free 3-week trial at GrainCents as this month could be the most impactful for how and when you price your spring wheat for the rest of 2017/18 old crop, as well as a significant portion of your 2018/19 new crop production.

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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