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Wheat marketing opportunities ahead
A grain marketer expects solid wheat marketing opportunities through the 4th of July.
Cody Harris with Star of the West Milling tells Brownfield last year wheat prices hit their peak around the 4th July and all indications point to a rally again this year. “There’s a little bit of firmness, definitely a little bit of upside potential for the farmer moving forward.”
He says drought conditions throughout the Central and Southern Plains will be more known as harvest progresses which should mean even stronger prices. “Right around the 4th of July, 2018 July futures contracts hit over $6 on the Chicago Board of Trade. Looking at this year, we’re looking at about $5.20 today, July futures. As we move forward, weather is going to be a key factor in what drives that market.”
Currently wheat harvest for Michigan, Indiana and Ohio is on track to ramp up the first week of July.
Harris spoke to Brownfield during the Michigan Wheat Program’s summer field day in Frankenmuth.
AUDIO: Interview with Cody Harris
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