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Market Commentary

Afternoon Comments 05/17


Wheat futures seemed to suffer Friday from the ongoing dollar rally and its potential for curtailing export demand. Other price shifts may simply have reflected the impact of wet weekend forecasts for the central U.S. That is, increased moisture in the west could improve the winter wheat harvest, thereby weighing upon Chicago and Kansas City prices. On the other hand, wet fields in the Northern Plains could slow spring wheat plantings and reduce production prospects for that region. July CBOT wheat futures slipped 4.5 cents to $6.8325/bushel in Friday morning trading, and July KCBT wheat dropped 5.25 to $7.3725, while July MGE futures were unchanged at $8.0375.
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Home > Resource Centers > Wheat > U.S. winter wheat conditions mixed

U.S. winter wheat conditions mixed

USDA  |   November 14, 2012
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Winter wheat conditions as of November 4 are not as favorable as last year at this time. For all winter wheat seedings, 39 percent of the crop rated good to excellent compared to 49 percent a year ago. Nineteen percent of the seedings this year are rated poor to very poor compared to 15 percent a year ago at this time.

This year’s crop conditions are quite variable by region of the country. Conditions for HRW seendings are not as good as for SRW seedings. For the Central and Southern Plains, the percentage of seedings rated poor to very poor are: Nebraska, 49; Kansas, 13; Oklahoma, 30; and Texas, 24.

SRW States that have the highest percentage of their seedings rated good to excellent include: Illinois, 78; North Carolina, 77; Indiana, 72; Michigan, 71; and Ohio, 69. Seventy five percent of Washington’s winter wheat seedings are rated good to excellent, the highest in the Pacific Northwest region.

Source: Wheat Outlook

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