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Wheat traders are paying record premiums for high-protein wheat after recent harvests favored quantity over quality. July spring wheat futures rose 9.5% this year to $5.89 per bushel on the Minneapolis Grain Exchange, with spring wheat's premium to winter wheat at a record.
Hedge funds are increasing bets on a wider spread.
Scarce high-protein supply is raising the price of spring wheat relative to winter wheat, which benefits premium milling and feed-grade buyers paying for quality. The price effect is mostly confined to the protein spread.
esmmagazine.comSteve Wynne-JonesJun 6, 2017Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
