US Wheat Pricing is Competitive Right Now

Over the last few years, wheat prices have been abnormally high due to drought across the western high plains. However, this year, US Wheat Associates has seen a significant increase in export sales compared to last year. Market Analyst Tyler Ledford explains.

|”We have really seen the price spread between us wheat and other major exporters narrow US hard red winter wheat, something at about $245 per metric ton, which is really within a four to $8 range of German and Polish origin. So that really puts us in the mix for the first time in several years. That's why we've seen a considerable increase in northeast exports.

Ledford says that buyers have recognized the value of US wheat, and with prices now lower, they can capitalize on this opportunity.

“For hard winter specifically, sales are up to 4% which is a really big jump from where we were last year. And then really we only have one class where exports are lower, and that's soft red winter. So all in all, we're positioned in a lot better place this year, where we can capture more incremental business just because our prices are more competitive, and for customers that already see the value in US wheat.”

Which, she says now is a good time for wheat export customers to take advantage of this good pricing opportunity.