This week’s (November 29th) Market News is here! Stay informed on the baking industry & continue reading below:
EGGS: Recent wholesale price increases for cartoned shell eggs stalled entering Thanksgiving week as shell eggs for holiday demand have largely cleared the marketing chain. Marketers now focus on their needs for the early December cookie demand season, just a couple weeks away. Offerings are increasing while supplies are light to moderate. Interest is cautious and trading is moderate.
WHEAT: Chicago wheat is making new highs not seen since December of 2012. Matif Wheat is making new all-time highs today as well. There are rumors that China is back in the market looking to purchase more French and Black Sea region wheat. Rains in Australia are causing delays in harvest and increased condition concerns.
BUTTER: CME butter shifted lower on Monday, and then was steady for the remainder of the week. The October Cold Storage report was bearish with butter stocks 21 million pounds heavier than forecast, but still down 6.1% from last year. The data suggests very weak disappearance for October. Maybe holiday retail demand was pulled forward into August/September? EU cream and butter prices have reportedly softened a little, but USDA says Oceania butter price is up sharply.
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For quality & essential baking ingredients, contact Buchmann Eggs TODAY. Get baking this holiday season!