Wheat Prices Rising Thanks to Spring Wheat

The latest USDA report shows that winter wheat production is expected to be a little bit higher than experts had predicted.

But World Outlook Board Chair Seth Meyer said spring wheat also missed expectations

“They were low, maybe not in line with trade expectations but they were low, so you have is a mix of a little bit more winter wheat and little bit less of the spring wheats and we’ve the spring wheat prices rise substantially.”

There was a slight bump to all-wheat carryout stocks as well along with the all-wheat price rising slightly.