June 21, 2018

Agricultural Economy – Commodity Prices

Tom Polansek reported in Saturday’s Wall Street Journal that, “Minneapolis Grain Exchange wheat futures stormed to new highs for the second consecutive day as traders scrambled to ensure that farmers plant enough spring wheat next year to replenish supplies.

“Spot-month MGE December wheat soared well above $10 per bushel to break its own record for the highest price at which wheat has ever traded at a U.S. exchange. The contract closed 30 cents higher at $10.43” (see related graph from article).