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‘Ludicrous’ Wheat Fuels Investor Frenzy and Farmer Angst

  • Futures near record high as grain elevators try to cool prices
  • Analyst calls situation a ‘crazed cash market scenario’
Updated on

Wheat’s biggest weekly surge ever is prompting investors to rush toward the amber grain while nervous U.S. farmers worry about missing out.

Wheat prices are diverging in some local markets, with the differential between cash prices and benchmark futures on the Chicago exchange plummeting as wheat buyers balk at the highest prices since 2008. That’s potentially sidelining farmers who are already contending with the worst farm cost inflation in years.