Spring wheat continues to carry a premium over the other wheat classes. Bower Trading President Jim Bower says the spring wheat production concerns are very real. “The Minneapolis contract for wheat still carries the premium for weather, but they can’t seem to get decent precipitation in southern Canada and the northern U.S.,” says Bower. “Spring wheat is very inelastic, which means demand has to be filled no matter what the price. It’s taken a spectacular move in a short period of time.”
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