Wheat prices are coming off of their record highs set a month ago, and flour prices appear to be steady to down a little. I don’t think we’re going to see much more change until the winter wheat crop is in (mid July). That is providing something doesn’t happen to the crop between now and harvest, like a late season freeze, too much rain, not enough rain, hail right at harvest time, or continued rain at harvest time, any of these could set off another bout of speculation leading to rapidly escalating prices (potentially a lot higher than where we are at right now). Right now, the winter wheat crop is looking pretty good and that is quelling the speculation of a massive crop failure, hence cool heads are at the buyer’s table, and prices are holding steady or even declining slightly. We will go thriugh this one more time, in August, when the spring wheat crop comes in.
Tom Lehmann/The Dough Doctor