Wheat Update

Matt Dale

With the busy time farmers are about to experience planting the crops this spring, it is a typical period when we can see some volatile prices. Make sure to set some target prices for your unsold old and new crop for us to watch while you are busy in the field where your time and focus needs to be.

SRW prices:

$5.50/bu for old crop

$5.50/bu for harvest movement

$6.00/bu for harvest 2018

$6.50/bu for JFM 2019 – as Neil in our office phrased it, this is the crop you will be planting in 4 months, harvesting next year and storing a couple months in the bin.

HRW prices:

$200/mt for old crop or harvest movement

$220/mt for harvest 2018 movement

HRS prices:

$230/mt for harvest movement

There are some great prices out there for next year’s wheat.  Some values to look at for both the old crop remaining, the crop coming off this year and the one to be planted. 

If you set a target price or book wheat for July 2018 or further out, and mention the phrase, “April commentary premium” and you will get a $0.10/bu premium on those contracts made between now and our next report for that shipping window.