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U.S. Wheat Price Report : Wheat Futures Closed Sharply Higher This Week

  • Wheat futures closed sharply higher this week due to political instability in Ukraine, a major wheat exporter. Spillover strength from corn and concern that cold weekend temperatures could damage wheat added support. Monthly state reports released by USDA’s National Agricultural Statistics Service showed crop quality in the southern U.S. Plains deteriorated in February, which boosted KCBT contracts. Continued logistics issues in Canada and strong demand for high protein wheat supported MGEX. MGEX March wheat closed 81 cents higher at $7.52/bu. CBOT added 47 cents to $6.46/bu and KCBT gained 38 cents to $7.15/bu. CBOT March corn added 24 cents to $4.81/bu and CBOT March soybeans gained 43 cents to $14.58/bu.
  • The MGEX nearby contract closed at a premium to KCBT on Thursday for the first time since November 21, 2013. KCBT still holds a premium to MGEX in the deferred months.
  • The political turmoil in Ukraine has not disrupted grain exports to date, but reports that traders are hesitant to fix new contracts have sparked speculation that demand could shift to other origins.
  • Efforts to alleviate transportation backlogs in Canada have yet to make a significant difference and logistics remain incredibly complicated. MGEX contracts rallied again this week on speculation that Canadian demand could transfer to the U.S. due to the logistics problems. HRS basis from the gulf remains firm due to limited rail capacity in the U.S.
  • According to USDA’s Export Sales Report, weekly sales of 556,100 MT for delivery during the 2013/2014 marketing year were up 52 percent from the previous week and 10 percent from the prior 4-week average and above trade expectations of 250,000 to 450,000 MT. Total known outstanding sales and accumulated exports, through February 27, 2014 were 28.6 million metric tons (MMT), 23 percent greater than last year's year-to-date total of 23.3 MMT. USDA forecasts 2013/14 U.S. wheat exports (including donations) to reach 32.0 MMT.
  • The Baltic Panamax Index fell from 1,099 last week to 1,075.
  • The US Dollar Index closes mostly unchanged from 79.76 last week to 79.72.

Source : uswheat.org


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Breakfast on the Farm - August 23, 2025

Video: Breakfast on the Farm - August 23, 2025


Date: Saturday, August 23, 2025
Location: Norfolk County Fairgrounds & Schooley Orchards/Apple Hill Lavender
Start your morning with a delicious farm-fresh breakfast and experience life on the farm — hands-on, up close, and unforgettable.
After breakfast at the Norfolk County Fairgrounds, take a guided tour of Schooley Orchards/Apple Hill Lavender. Stroll through apple orchards and lavender fields, meet local farmers, and discover how your food is grown and raised right here in Ontario.
What you can look forward to:
  • Local farm-fresh breakfast
  • Meet and learn about farm animals
  • Interactive exhibits and games
  • Farm equipment showcase
  • Self-guided tours through orchards and lavender fields
  • Fun and educational activities for all ages
This is a unique opportunity to connect with local agriculture, learn where your food comes from, and enjoy a memorable family outing.