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| 2008 Spring Wheat Contracting Information |
Blaine Jacobson
Idaho Wheat Commission
(208) 334-2353
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Several Idaho grain handlers have responded to our annual survey of spring wheat contracts being offered to wheat growers. There are likely other grain handlers who are offering spring contracts that are not listed below. Please check with your grain handler for specific details.
Varieties Being Contracted
Alzada and Kronos Durum varieties, $8.50 per bushel, 13% minimum protein
Klasic, or Blanca Grande Hard White varieties, $.10 premium to market, 12% minimum protein.
Snowcrest Hard White variety, $.15 premium to market, 12% minimum protein
Pristine Hard White, see General Mills for details
WB 470 Soft White variety, $.10 premium to market
Alturas Soft White variety, contract price based on futures
Selected HRS I.P. varieties, including WB 936, Jefferson, & Jerome varieties, $.10+ premium to market
Organic wheat, HRS, SW, HW, HRW, market price + $2.50 premium
Idaho Grain Handlers Offering Contracts
General Mills, Idaho Falls
AgriSource, Burley, Newdale, Mountain Home
Ririe Grain
Pasley Grain, Idaho Falls
With recent high prices, determining whether or not to enter into a forward contract can be a difficult decision. The forward contracts being offered for spring wheat in 2008 are the highest in history. As General Mills reminded us recently, it is important for growers to carefully weigh how to market their 2008 crop and to put together a marketing plan that helps protect themelves from the downside. Soft White open market prices are currently extraordinarily high, but their ability to stay high depends on a lot of factors outside of anybody's control.
Demand continues to outpace supply for Hard White wheat grown in southern Idaho. For the past couple of years, the entire crop has been sold within days of harvest. The domestic market demand for hard White remains superb as we go into another spring planting cycle.
Several Idaho grain handlers have responded to our annual survey of spring wheat contracts being offered to wheat growers. There are likely other grain handlers who are offering spring contracts that are not listed below. Please check with your grain handler for specific details.
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