CROPS

White wheat bids in Portland for late September (4 months ago) were close to $6.30 per bushel (Chicago was at $6.40). This week the bid is about $6.33 for white (Chicago $6.16). Wheat prices have accomplished very little in those months in the way of a trend, and there is little in the fundamental supply and demand balance sheet that appears large enough to trigger a serious breakout unless weather becomes really extreme ahead of harvest. There may be some who would argue from a more positive position, maybe based on a review of the difference or "spread" between leading contracts of Chicago w...