Wheat futures have taken a tumble since the USDA crop production and supply/demand report was released last Thursday. US spring wheat production was pegged at 402 million bushels, down 21 million bushels from the latest estimate in July. This was a smaller drop than was expected due drought currently taking place in the northern states. This has resulted in Minneapolis spring wheat futures to fall $0.75 as of Tuesday. Despite low production in the US, global wheat production is making up for it, especially in the Black Sea region. If you have any max 1 PPM feed wheat left in the bins we still have some opportunities around $5.00/bu picked up in the yard so be sure to give us a call.

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