The week’s Market News Update features important bakery industry news for operations to consider. Here are some key points:
WHEAT: Spring wheat crop conditions are at the lowest they’ve been in history at 20% good/excellent. USDA report was bullish across the board with acreage intentions coming in below expectations: Corn: 92.7, Soybeans: 87.6, Spring Wheat: 11.6 million acres. Grain ending stocks also came in under expectations for June: Corn: 4.112 billion bu, Soybeans: 767 million bu, Wheat: 844 million bu.
EGGS: Wholesale prices for cartoned shell eggs held steady through the week on mixed interest. Supplies are moderate to heavy while offerings are moderate. Trading is slow to moderate. Wholesale prices for graded loose eggs are mixed, firm to higher on reduced trading. Supplies remain moderate to heavy with moderate offerings. The pace of trading is slow to moderate. Prices for national trading of truckload quantities of graded, loose, White Large shell eggs increased 8% (from $0.476 to $0.516 per dozen) with a firm undertone. Consumer demand for shell eggs remained soft over the past week as the most active retail as cycle of the year that occurred in the last cycle failed to encourage increase purchasing despite attractive average sale price levels
Click HERE for the full report.
Buchmann Eggs has all of the baking solutions for your operation to take advantage of! Contact us today to see how we can help you improve sales and customer satisfaction.