September 14, 2023

Weekly Market Highlights

• On Tuesday, wheat started the day lower and ended higher due to the WASDE report. While U.S. stocks were slightly more than anticipated, world wheat stocks were tighter than anticipated — 6 million metric tons lower than the average guess and 9 million tons less than the carry in. Production in Canada, Australia, the EU, and Argentina was taken down while production in Ukraine was taken up. Also worth noting was that exports for Russia and Ukraine were left unchanged in the report.
• Wheat continued its gains through Wednesday mostly on traders working to even up short positions they carried over after the report.
• Per the USDA’s crop progress and condition report that came out Monday, spring wheat is 87% harvested. Based on harvest samples collected so far, there are concerns for supply of higher protein this year which has been driving a significant basis rally in the MPLS spot market.

Gold Medal Full Strength or Superlative

  Perfect “all-around” bread flours provide excellent results in any type of yeast-raised product. They are ideal for pan breads, rolls, buns, hearth breads and many specialty-baked products.
  Description: A high quality enriched, malted bread flour available in a variety of treatments, including bleached or unbleached, bromated* or unbromated.
  Uses: Variety breads, thick or thin crust pizza, sweet goods, hard and soft rolls.
  *Bromated flour is available east of the Rockies only.

Previous Week Flour Facts

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