This week’s Market News Update features vital information regarding the baking industry. Here are some key points to consider when preparing for the upcoming weeks:
WHEAT: Hard Red Spring wheat (HRS) harvest is pressuring the Minneapolis spring wheat contract, with speculators now exiting the long side. U.S. HRS harvest reports are showing more quality bushels than previously anticipated, which has scared the trade into believing the rally is over. With mostly favorable fall crop weather forecasts, corn’s downside is putting additional pressure on Kansas City and Chicago wheat contracts.
EGGS: Wholesale prices for cartoned shell eggs moved lower through the trading period despite moderate supplies and light to moderate offerings. Trading is slow to moderate, interest average. Wholesale prices for graded loose eggs firmed and moved slightly higher through the week on good demand, moderate supplies, and light to moderate offerings. Trading was slow to moderate and the volume of trailer load sales increased 44% over last week’s limited movement.
BUTTER: No new update available.
Buchmann Eggs is proud to offer high quality ingredients that will benefit any baking operation. Contact us today to learn more about how we can help!