This week’s Market News report holds crucial information on the baking industry! Continue reading below:
WHEAT: The commitment of traders show that the funds have been exiting their positions in wheat and are currently short in Chicago wheat. Railroad movement is 2-3 weeks behind with the shortage of workers – this has caused winter wheat basis to be the highest it has been since 2008. Wheat export sales have slowed down as U.S. wheat prices continue to be higher than the rest of the global market.
EGGS: Wholesale prices for cartoned shell eggs advanced through the week on mixed supplies and offerings short of current needs. Demand is good and trading is moderate to active. Wholesale prices for graded loose eggs rose sharply through the week as marketers chased limited offerings in an effort to increase their dwindling supplies. Interest is good and trading is moderate to active.
BUTTER: No updates available.
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