Wheat prices are expected to move upward over the next few months.
According to FarmLink Marketing Solutions senior analyst Neil Townsend, prices are forecasted to rise due to reduced wheat supplies in Ukraine, Russia, the European Union and Argentina.
“There’s probably a 25-50 cents upside for the cash prices from today,” he said. “It’s not an absolute guarantee that we get to those levels. I mean, we’ve been aggressively selling and there’s been a lot of wheat activity over the last, say, month and a half.”
Townsend also sees durum wheat prices on the rise, but only 25 cents a bushel over the next few months.