A grain market analyst says wheat prices are under pressure during harvest but he expects a rebound late this year.
Senior market analyst with FarmLink Marketing Solutions, Neil Townsend, says abundant world supplies of wheat are pressuring markets this summer but demand should pick up late this fall and during the winter.
“We think we’re going to see higher prices, sort of in that November through April period,” said Townsend. “The one big competitive threat to Canada would be the Australians who have a much bigger crop.”
Townsend expects wheat prices should gain 40 to 50 cents a bushel over the winter.
