Looking at the Wheat Market

Winter Wheat and the Markets 091919

USDA says 76 percent of the U.S. spring wheat crop has been harvested out of the six top producing states. That’s double-digits below the 5-year-average. Winter wheat is getting planted as well.

“I’m friendly [with] wheat in general,” said Brian Splitt of AgMarket.Net.

If reports hold true, wheat acres keep decreasing.

“We’ve had the July Kansas City wheat contract is trading on $4.20 a bushel, which is the lowest value for a new crop contract prior to planting since I think about 2006,” said Splitt.

Splitt believes we’ll potentially have another reduction in wheat plantings.

Clinton Griffiths talks with Splitt about the wheat market.