Here is a quick summary of this week’s (September 6th) Market News highlights regarding the baking industry:
WHEAT: Stats Canada came out earlier this week and showed all wheat production for Canada came in at 22.9mmt vs. 35.2mmt last year. Open interest on the futures board insinuates that traders have been getting out of the market. Spring wheat harvest is now 88% complete vs. 77% this time last year.
EGGS: Wholesale prices for cartoned shell eggs remained steady through the trading period on a moderate demand and supplies and offerings remained in relative balance. Trading maintained a moderate pace. Wholesale prices for graded loose eggs fluctuated through the week but finished the week down slightly as supplies are more aligned with current needs and offerings held at light to moderate levels.
BUTTER: No new update available.
Click HERE for the full report.
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