Last week’s rain may have been just a month too late to save the winter wheat crop.
One DTN analyst says if the Southern Plains would have received precipitation in late March, early April, it could have been called a billion dollar rain. The report shows if all of the winter wheat acres in Texas, Oklahoma and Kansas would have received enough rain to boost yields by 18 bushels per acre, the economic value would have come in at 350 million bushels, which is more than $2 billion.
USDA‘s latest crop progress report has 42 percent of the winter wheat crop in the bottom category.
Related Stories
Corn and wheat inspections outpaced last year, but soybean movement remains seasonally active yet behind, keeping basis and freight dynamics in focus by corridor.
Export Inspections In Bushels Show Mixed Momentum Patterns
Expect firm demand for dependable HRS and SW, steady movement in HRW, more sorting on SRW, and selective bids on durum until full milling results are released.
USDA’s report shows wheat strength overall, with winter wheat yields setting records, while spring wheat and rye saw declines. Oats and barley remain constrained by record-low acreage despite stable or rising yields.
