This week’s Legacy Market News Report has important insights on aspects of the baking industry. Here are some key takeaways to consider when dealing with these different products.
FLOUR: Markets last week were driven by weaker spring grain exports and favorable weather conditions in South America. FSU and Russian exports, in addition to a large Australian wheat crop, caused softness in the wheat markets.
DAIRY: The USDA announced they will be buying $50 million worth of butter with Section 32 funds in 2021, which is supportive for prices next year but shouldn’t be a big mover for spot prices given the heavy supply of cream currently in the market. Butter prices are increasing.
EGGS: Consumer demand for cartoned shell eggs declined to below average levels over the past week as the market moves through the end of Thanksgiving demand and the start of Christmas baking season demand.
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