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Tight Supply in Free Wheat Mart
The tight supply in the free wheat market is blamed on factors such as a small wheat crop, lower high protein wheat availability, government loans, and ample storage capacity. Cash premiums may ease in August as mills stock up, while prices stay near the net loan rate, with a CCC sales price around 105 percent of the base rate plus premiums. Projections place No. 1 wheat near 2.30 dollars per bushel by spring, with a 2.07 base support, suggesting little selling at CCC levels except for very high protein wheat.
MENTIONED IN THIS ARTICLE
U.S
Commodity Credit Corporation
McDonald
Kansas City
CCC