Welcome to the bulk food market news update.  Wheat prices have rallied over the past two days on concerns about the arctic air blast damaging the U.S. crop.  However, wheat is a global market and mild weather in Europe and the Black Sea region have put a damper on a big rise in prices in the short-term.  Looking at the charts, wheat prices broke through the trend line we had been following for months at around the $6.40 area and have dropped to around $6.00.  Prices have risk down to the $5.70 area where there is a lot of support.  The major crop report comes out on January 10th.  How prices react to the January report, which offers the market the first look at winter seedlings, will provide further clarity on prices in the short-term.

Farm Futures magazine reported that based upon their December survey that the 2013 crop was smaller than reported.  The January 10th crop report will provide the final look at the 2013 corn harvest and could provide additional price support.  China has continued to reject shipments of U.S. corn due to the presence of a variety of GMO corn that is not approved by the Chinese government.  The corn monthly chart shows that prices are still sitting at the supporting trend line at around $4.25.

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.  You can download a copy of our product catalog here.

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