• Facebook
  • Twitter
  • Vimeo
  • LinkedIn
  • SUBSCRIBE
  • MEMBER LOGIN
U.S. Wheat Associates
  • Our Story
    • About USW
    • Dependable People. Reliable Wheat.
    • Board of Directors
    • Staff Directory
    • Office Locations
  • Market Information
    • Market Information
    • Price Reports
    • Price Charting Tools
    • Supply and Demand
    • Commercial Sales
  • Crop Quality
    • Crop Quality
    • Harvest Reports
    • Hard Red Winter
    • Hard Red Spring
    • Hard White
    • Soft White
    • Soft Red Winter
    • Durum
  • Working With Buyers
    • Working With Buyers
    • Customer Conferences
    • Wheat Classes
    • Wheat Glossary
    • Wheat Grade Factors
    • How to Buy
    • Ask the Expert
    • Resources
  • Who We Represent
    • Who We Represent
    • Board Meetings
    • State Wheat Commissions
    • Partners
    • Trade Activities
  • Policy
    • Policy
    • Trade Negotiations
    • Trade Barriers
    • Innovation and Sustainability
    • Food Security and Assistance
    • Public–Private Partnership
  • News
    • Newsroom
    • Wheat Letter Blog
    • News Releases
    • Videos
  • Search
  • Menu Menu
You are here: Wheat Letter Blog 1
Market and Crop Analysis

Pandemic Adds Pressure to U.S. Wheat Prices

By Claire Hutchins, USW Market Analyst

It is no secret that these are uncertain times. As countries across the world work to contain and combat the novel coronavirus (COVID-19) outbreak, U.S. Wheat Associates (USW) is closely monitoring the effects of the outbreak on global wheat trade dynamics. According to a host of U.S. grain traders, it is too soon to tell the immediate effects of the pandemic on the international demand for U.S. wheat.

However, there is a clear relationship between the turbulence in global economic markets and the export price of U.S. wheat. Over the past several months, the export price for all classes of wheat out of the Gulf and Pacific Northwest (PNW) has fallen due to substantial pressure in the U.S. wheat futures markets, pressure that the pandemic has only increased.

Between late January and mid-March 2020, nearby Chicago Board of Trade (CBOT) soft red winter (SRW) wheat futures fell 12% from $5.74/bu to $5.06/bu. Nearby Kansas City Board of Trade (KCBT) hard red winter (HRW) wheat futures fell 11% from $4.86/bu to $4.32/bu. Nearby Minneapolis Grain Exchange (MGEX) hard red spring (HRS) wheat futures fell 7% from $5.48/bu to $5.08/bu.

Futures Prices

Source: USW Price Charting Tools

During the same period, PNW HRW 11.5% protein (on a 12% moisture basis) FOB prices fell 7% from $241/MT to $224/MT. Gulf HRW 11.5% protein FOB prices fell 9% from $235/MT to $214/MT and Gulf SRW FOB prices fell 13% from $262/MT to $228/MT.

Source: USW Price Charting Tools

Gulf HRS 14% protein FOB prices fell $16/MT from $267/MT to $251/MT and PNW HRS 14% protein FOB prices fell $12/MT from $263/MT to $251/MT.

Source: USW Price Charting Tools

Under these unprecedented circumstances, USW is doing everything it can to continue to promote the reliability, quality and value of all six U.S. wheat classes to our overseas customers. USW encourages our customers and stakeholders to reach out to our colleagues by telephone or email. We are ready to provide the information our customers need about U.S. wheat supplies or market factors, or answer any marketing and processing questions that may arise.

March 18, 2020/by actualize
Share this
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on LinkedIn
  • Share by Mail
https://www.uswheat.org/wp-content/uploads/2021/07/Wheat-Seedings-Edit-2.jpg 570 887 actualize https://www.uswheat.org/wp-content/uploads/USW-Logo-Full-Color.png actualize2020-03-18 13:46:362020-03-18 13:46:36Pandemic Adds Pressure to U.S. Wheat Prices

Wheatletter Sidebar

Quick Links

  • Newsroom
  • Wheat Letter Blog
  • News Releases
  • Videos

Wheat Letter Related Blogs

A woman in a greenhouse at the Washington State University showing wheat breeding research to a Korean man.
Wheat Industry News

Wheat Industry News

News and Information from Around the U.S. Wheat Industry   Speaking of Wheat “The…
MORE
February 2, 2023
https://www.uswheat.org/wp-content/uploads/IMG_1653-scaled.jpg 1920 2560 Steve Mercer https://www.uswheat.org/wp-content/uploads/USW-Logo-Full-Color.png Steve Mercer2023-02-02 10:26:332023-02-02 10:26:33Wheat Industry News
Image shows farmers in a wheat field with the USW logo and World Wheat Supply and Demand headline to illustrate story on wheat prices.
Market and Crop Analysis

Wheat Prices Trend Lower Even As Uncertainty Continues

Following a year of dramatic volatility, several factors have pressured global wheat prices…
MORE
January 30, 2023
https://www.uswheat.org/wp-content/uploads/Wheat-SD.jpg 763 1318 Steve Mercer https://www.uswheat.org/wp-content/uploads/USW-Logo-Full-Color.png Steve Mercer2023-01-30 17:47:322023-01-30 17:47:32Wheat Prices Trend Lower Even As Uncertainty Continues

Stay up to date on wheat industry news!

SUBSCRIBE

Think Farm Export Programs Don’t Matter? Think Again.

GET THE REST OF THE STORY

Our Story

  • About USW
  • Dependable People. Reliable Wheat.
  • Board of Directors
  • Staff Directory
  • Office Locations

Market Information

  • Market Information
  • Price Reports
  • Price Charting Tools
  • Supply and Demand
  • Commercial Sales

Crop Quality

  • Crop Quality
  • Harvest Reports
  • Hard Red Winter
  • Hard Red Spring
  • Hard White
  • Soft White
  • Soft Red Winter
  • Durum

Working with Buyers

  • Working With Buyers
  • Customer Conferences
  • Wheat Classes
  • Wheat Glossary
  • Wheat Grade Factors
  • How to Buy
  • Ask the Expert
  • Resources

Who We Represent

  • Who We Represent
  • Board Meetings
  • State Wheat Commissions
  • Partners
  • Trade Activities

Policy

  • Policy
  • Trade Negotiations
  • Trade Barriers
  • Innovation and Sustainability
  • Food Security and Assistance
  • Public-Private Partnership

News

  • Newsroom
  • Wheat Letter Blog
  • News Releases
  • Videos

DTN Wheat Detail
DTN Corn Detail

2008-2013 U.S. Wheat Associates. All Rights Reserved
Privacy Policy | Non-Discrimination Statement

Scroll to top