This week’s Legacy Market News Update has key information for the baking industry. Here are some highlights to consider:
FLOUR: Timely rains in the southern Plains have the winter wheat crop off to a good start. Russian new crop wheat estimates are projected to be larger than expected.
BUTTER: CME spot butter has stayed a little stronger than expected. Bids are often below the market, but sellers have not felt the need to push the market down. Cream is reportedly a little heavy in the West- ern US but more balanced in the Central region. Easter is coming early this year, and during the pandemic consumers are doing their holiday food shopping earlier than they used to, that might be boosting retail demand in Mar. EU butter prices were mixed this week.
EGGS: Demand for shell eggs over the past week declined ahead of the big Easter push at retail that has gotten underway in ads breaking this week. Wholesale prices for cartoned shell eggs held steady but grew weaker by the end of the week peaked mid-week as marketers had their supply needs covered for the Easter demand period.
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