Daniels Trading broker John Payne is expecting wheat to compete for acres next spring. “In my opinion, the big one to watch is Minneapolis spring wheat. That has the potential to really go given the need for acreage. If we have a demand for hard red wheat in this country, that spring wheat price should be higher to get folks to plant wheat instead of soybeans.” A weaker dollar will help spring wheat. “When I started in this business in 2007, Minneapolis was king. It was the strongest high protein contract on the books. The U.S. dollar got stronger, but now that’s starting to change.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.