Winter Weather Stirs the Wheat Market as Global Supply Keeps Prices in Check Titelbild

Winter Weather Stirs the Wheat Market as Global Supply Keeps Prices in Check

Winter Weather Stirs the Wheat Market as Global Supply Keeps Prices in Check

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This is your Daily Wheat Price Tracker with Vanessa Clark podcast.

Hey friends, welcome back to Daily Wheat Price Tracker with Vanessa Clark. I'm your host Vanessa, and today we're diving into the latest on wheat prices, global supply trends, and what it all means for you.

Let's start with the numbers you care about most. Chicago wheat futures for March closed at five dollars and forty-seven cents per bushel, up nine and a quarter cents, according to GX94 Radio's closing commodity prices. Over in Canada, Bunge's Moose Jaw Terminal reported one red spring wheat at two hundred fifty-nine dollars and thirty-six cents per tonne, up three dollars and thirteen cents, while feed wheat held steady at two hundred fourteen dollars and fifty-eight cents. Kansas City wheat for March hit five dollars and seventy-four cents, up five and three-quarters cents. These gains come after a pullback yesterday, with prices dipping below five dollars and forty cents amid ample global supply.

What's driving this? Weather is playing a big role. Morningstar reports May wheat futures rose two point one percent to five dollars and fifty-four cents, sparked by winter weather issues in growing areas worldwide, including ice over Ukraine and prairie fires in the Texas Panhandle. But the bigger picture is bearish, friends. AInvest notes record global output at eight hundred thirty-seven million tons from the USDA WASDE, plus SovEcon's upward revision for Russia's twenty twenty-six crop to eighty-five point nine million tons, keeping downward pressure on prices. US export sales are strong at ninety-two percent of targets, but shipments slowed, adding to the glut feel.

Looking ahead, keep an eye on the March tenth USDA WASDE report for supply updates, and watch US Plains dryness that could tighten things later. The Western Producer saw US wheat futures firmer this morning, with hard red winter up seven cents.

Here's your takeaway: If you're a farmer, consider precision tweaks to cut costs amid this supply overhang. Buyers, strong demand means locking in now before weather flips the script. Stay sharp on winter wheat conditions in the US, Black Sea, and EU.

Thanks for tuning in, pals. Subscribe, share with a friend, and catch you tomorrow for more wheat updates!

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