WEEKLY BFI NEWS EMAIL

After bouncing off the low at $6.26 per bushel wheat has put together a stealth 11% rally over the past month. The wheat market hit a 3 month high of $6.96 per bushel this morning. Looking at the weekly wheat chart below we see prices are continuing up after bouncing off the up sloping trend line. Furthermore, we have passed the first point of resistance which was the down sloping trend line. Prices appear headed for the next area of  resistance at around $7.00 -$7.10.

Fundamentally, supplies continue to be very tight and exports are strong, especially for hard red winter wheat. Agricultural economist Frayne Olsen at North Dakota State University says, “Wheat will take on a life of its own,” due to wheat decoupling from corn. Corn has dragged wheat down but now wheat is going up while corn continues to drift lower. It appears that both the fundamentals and the charts are saying that now is a good time to purchase wheat as a long-term investment.

Check out the articles below for a more comprehensive look at the bulk food market news.

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.

For pricing information, download a copy of our product catalog here.

 

Weekly Wheat Review

Weekly Corn Review

Wheat Market Comes Alive

Grain futures mixed; Wheat trades near 3-month peak

Dry Bean Update

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For more information please contact us at 816-833-8062 or email at sales@bulkfoodinternational.com

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