Market Matters Blog
Katie Micik DTN Markets Editor

Wednesday 08/27/14

Is Tuesday's Minneapolis Cash Trade a Sign of Things to Come?
Tuesday's U.S. spring wheat trade saw basis levels for high protein milling wheat gain as much as $1.75/bushel, a sign that protein is potentially poised to be a growing issue.[Read Full Blog Post]
Posted at 5:19PM CDT 08/27/14 by Cliff Jamieson | Post a Comment
Comments (1)
This is interesting with OK State's Kim Anderson saying; "Reports indicate that the average hard red winter (HRW) wheat protein in Texas, Oklahoma, and Kansas is about 14 percent. Millers report that 14 percent protein HRW wheat is an unprecedented problem. Reports indicate that the nearest acceptable protein wheat (in large quantities) is in northwest Nebraska. The protein premium is inverted as lower protein HRW wheat has higher demand than relatively high protein HRW wheat." It seems this price inversion of lower protein HRW wheat might keep HRW wheat out of the feedlot in the South - maintaining corn demand. Currently, it seems the premium for high protein wheat; not a discount for low protein, along with the sever discounted basis for corn should/might also keep wheat from returning to the feed channels in the North. Some diseased SRW will be fed but the level of inclusion in the ration is limited because of animal health issues. As it now looks, wheat will not replace corn (to a great degree) in feeding rations- as least in the US. Freeport, IL
Posted by Freeport IL at 8:35AM CDT 08/29/14
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