Welcome to the bulk food market news update.  The bad news continues for the upcoming wheat harvest. Kansas, the largest wheat producing state in the U.S., expects production to be down 6.3% from last year.  One Kansas farmer said, “if we don’t get widespread heavy rain in the next two weeks, it will be a disaster.”  In Kansas “severe to exceptional drought” is now being reported in 72% of the state according to Drought Monitor.

The annual Wheat Tour is taking place this week as experts evaluate the current condition of the wheat crop.  Early indications are for 34.7 bushels per acre which will be the worst yield in a decade.  Also supporting the wheat market is the escalating situation in eastern Ukraine.  The stealth invasion of eastern Ukraine by Russian soldiers in military uniforms without insignia is taking place just as it occurred in the Crimea.  Russian President Putin is keen to retake territory which was lost after the fall of the Soviet Union.  Black Sea wheat from Ukraine and Southern Russia are key export markets, especially to the world’s largest importer Egypt.

In the corn market, corn planting are behind schedule.  In the corn belt, cold and wet weather have forced farmers to delay planting resulting in 19% of the crop being in the ground compared to an average of 28% at this time of the year.  Corn has risen over 26% from the lows at the beginning of the year.

Contact us at sales@bulkfoodinternational.com or 816-833-8062 and we can help you get started investing in bulk foods as a tangible asset you have possession of, instead of just a piece of paper.  You can download a copy of our product catalog here.

Weekly Wheat Review

Weekly Corn Review

Kansas Wheat Turning Brown Shows Drought Damage for Winter Crops 

Wheat Gains Fourth Day as Ukraine Tension Raises Supply Concern

Wheat Tour Estimates 34.7 Bushels/Acre; Worst Day-One Average in More Than a Decade

U.S. winter wheat ratings decline amid drought in western Plains

China to Surpass Japan as Top Corn Buyer: Chart of Day

U.S. Corn Planting at 19%, Still Behind 28% Average

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