Commodity Classic, the official trade show and convention for four different national commodity groups, is underway in Nashville, TN. It’s a major show for the American Soybean Association, the National Corn Growers, the National Association of Wheat Growers and the National Sorghum Producers.
Rusty caught up with the Chairman of the U.S. Wheat Associates, Randy Suess, a soft white wheat grower from Colfax, Washington while at the show. He spoke to Suess about U.S. wheat exports.
The end of the Canadian Wheat Board’s single desk for marketing western Canadian wheat, due Aug. 1, is expected to create an increased need for a viable futures market to manage risk and aid in price discovery.
To that end, Commodity News Service Canada reported this week that representatives of the Chicago Board of Trade, Minneapolis Grain Exchange and ICE Futures Canada came to Winnipeg Tuesday to highlight the benefits of using their respective contracts in a panel discussion at the Wild Oats GrainWorld conference.
Winnipeg-based ICE Futures recently-introduced milling wheat contracts have only traded for a little over a month, and exchange officials have admitted that trade was thin “but not disappointing.”