A grain market analyst expects spring wheat prices could jump 35 to 70 cents a bushel in coming months.
FarmLink Marketing Solutions market analyst Neil Townsend says strong world demand for wheat, particularly from China, continues to push markets upward.
“We don’t see prices getting really super high from where we are today,” said Townsend. “But we think it’s well supported and we think it would be fair to be looking for seven plus for 113.5 CWS.”
Townsend says the ongoing extremely dry weather in areas like North Dakota and Kansas could push up wheat prices if it persists into next spring.
