Wheat Market Weak Now, but Could Improve

Ask any wheat grower and they’ll tell you this is a challenging time with acreage dropping, production dropping and prices dropping.

Steve Mercer with U.S. Wheat said that’s the same story around most of the world with few exceptions and that could help a rebound.

“But that does begin to help move that wheat out into the market and so that’s going to start being reflected in futures prices.”

Mexico is the largest purchaser and consumer of U.S. wheat.

Mercer said USW has come up with a new strategy to help wheat farmers.

“We’re moving away from trying to fight the price fight with Russia in the Middle East and moving towards those markets where quality is desired and appreciated and those folks are willing to pay for it.”

Those new markets could include Vietnam, the Phillipines and other areas of Southeast Asia.