Summer Economic Value Kansas City Wheat – 05/27/2021

Kansas City hard red wheat could be expected to trade between $5.00 and $7.00 this summer based on the USDA’s May balance table. But the forecast price range would increase at least .75/bushel  assuming a 60 million bushel drop in production from the May estimate, as suggested by the most recent crop conditions index and US wheat usage for the 2021/2022 crop year is held at the May estimate level.