Wheat Markets Continue to Bound Upward

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The wheat markets hit a 22-month high on Friday after posting a monthly gain in July that we haven’t seen since the early 1970’s.  It may sound like a broken record as we report that a drought in the former Soviet Union is pushing us upward.  Repetitive or not, the numbers are still rising with the same reasoning.

Jim Bower of Bower Trading gave us the latest on that overseas situation Monday morning.

Jim says that Australia and Argentina could also have problems ahead if they don’t see some moisture.

In the meantime, when you have enough on your mind as we begin this harvest season here at home, let’s worry about marketing.

Experts across the board are urging producers to take advantage of these higher prices, but how much higher could they go?


While not wanting to put a number value on the top price, Jim said that the market is still looking strong.

As the combines begin to roll in our region, sawfly damage is being reported as extreme in some areas this year.  Saying that, Jim tells us that he’s received a report of a 95 bushel wheat yield coming out of the Sun River, Montana area.

 

© Northern Ag Network 2010

Haylie Shipp

 

 

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