Here is a quick summary of this week’s (August 2nd) Market News highlights regarding the baking industry:
EGGS: Wholesale prices for cartoned shell eggs held steady through the trading period as supplies are mostly moderate for current business needs and offerings are light to increasingly moderate. Trading is slow to moderate. Wholesale prices for graded loose eggs rallied early but succumbed to downward pressure and moved lower as marketers had much of their supply needs covered for the moderate offerings.
WHEAT: The spring wheat crop tour painted a 25.6 bushel per acre estimate for northwestern North Dakota. Winter wheat is now 84% harvested and spring wheat is just getting started but is already ahead of last year’s pace due to the drier conditions. There are some frost and freeze concerns over parts of Brazil and Argentina that could affect their wheat crop.
BUTTER: No new update available.
Click HERE for the full report.
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