Markets Wait: Just How Bad do Scouts Think Wheat Crop Is

Arlan Wheat Tour
A Tuesday spike in wheat markets was mostly short covering according to Arlan Suderman of INTL FC Stone. Now the markets wait to hear how bad scouts think the crop really is. ( Charles Johnson )

Day two of the winter wheat tour is underway. The group making 317 stops during day one calculated a yield of 38.2 bushels per acre from the stops in north central, central and northwest Kansas on Monday.

The Wheat Quality Council says that compares to 43 bushels per acre in 2017. However, the group said tour scouts indicated the yield was likely high since wheat is about three weeks behind normal, it's short and conditions are dry. There are signs the crop has been stressed by drought and colder temperatures this growing season.

While wheat markets saw a spike Monday following initial reports from the tour, the buying was mostly prompted by short covering according to Arlan Suderman of INTL FC Stone. Suderman talked with AgDay host Clinton Griffiths about the first day of the tour and what the markets will be watching when the Wheat Quality Council offers up its estimate of the crop on Thursday. Watch the analysis from Suderman in the video player above.