Farm Progress

Wild wheat: What's behind the volatile markets?

On this episode of Around Farm Progress, market analyst Jacqueline Holland explains the fundamentals behind recent wheat market volatility.

Rachel Schutte, Content Producer

May 5, 2023

11 Min Listen

Tight global supplies have held up wheat prices since 2020 due to the surge of Chinese purchases, La Nina's influence on yields, Russia's invasion of Ukraine, and inflation. However, that price support is slipping.

On Tuesday, May 2, Chicago wheat prices dropped to a 25-month low. Then prices whipped back on Wednesday and Tuesday.

What's behind all the volatility? Is it Russia? Weather? Or something else entirely that farmers should keep an eye on?

Tune in as Jacqueline Holland explains the current fundamentals influencing the wheat complex, and where prices could be headed as U.S. farmers get closer to harvest.

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Around Farm Progress

About the Author(s)

Rachel Schutte

Content Producer, Farm Futures

Rachel grew up in central Wisconsin and earned a B.S. in soil and crop science from the University of Wisconsin - Platteville. Before joining the Farm Futures team, Rachel spent time in the field as an agronomist before transitioning to the world of marketing and communications. She now resides in northeast Iowa where she enjoys raising bottle calves and farming corn and soybeans alongside her husband and his family.

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