Naomi Blohm, senior market adviser, Stewart-Petersen: High Plains Journal columnist Naomi Blohm gives her outlook on where the wheat market is heading, and help you lock in a profit on the rest of your 2017 crop!
A glut of wheat in the world has dogged prices the last two years, but consumers are slowly chewing their way through wheat stocks. Prices should rebound sooner rather than later, said Naomi Blohm, senior market advisor for Stewart-Petersen.
“The worst of the prices are behind us. That’s the good news,” Blohm told growers at Wheat U in Wichita, Kansas, in August.
Since their peak in 2007-08, wheat prices have tumbled. For the next several months, Kansas City Board of Trade wheat prices will be locked into a sideways, back-and-forth tussle between $4.50 and $5.25 a bushel.
The fundamentals of wheat pricing are shifting, Blohm said. Corn and soybean acreage is on the rise, pulling acres out of wheat production. That’s happening even in traditional wheat regions, like Kansas, South Dakota and North Dakota. However, corn production in these fringe states is affected by drought and heat, which has reduced yield potential.
<!– Naomi Blohm is a specialist at helping farmers implement marketing strategies which complement their cash marketing strategies. She helps to manage overall weighted average price, allowing producers to maximize opportunity while minimizing risk. She is a sought after public speaker for both grain outlook as well as education of futures and options strategies. In addition, she is co-creator and presenter of Stewart-Peterson’s program “Women to Women: Educating Women about Farm Marketing.”
Naomi earned her Bachelor of Arts in Political Science with a minor in Agriculture Business at the University of Wisconsin in Platteville. She has a Master of Science in Adult Education with an emphasis in Ag Economics, University of Wisconsin, Platteville, and a Master Certificate in Global Education, University of Wisconsin, Oshkosh.
Speaking Subject: High Plains Journal columnist Naomi Blohm gives her outlook on where the wheat market is heading, and help you lock in a profit on the rest of your 2017 crop! –>