Winter Wheat
With crop conditions, trade, and geopolitical developments all in focus, traders will be watching Friday’s WASDE report to see where the agricultural markets are headed next.
USDA says 67 percent of the winter wheat crop has been harvested despite lower production.
Wheat Supplies Tighten As Summer Weather Shapes Production
Wheat production forecast down 7 million from June and the lowest since 1970/71. Winter wheat saw the largest adjustment. Global wheat stocks also moved lower as consumption increased and supplies tightened.
The next U.S. Drought Monitor is scheduled for release Thursday, providing an updated look at moisture conditions across the country.
Lewis Williamson with HTS Commodities joins us to discuss U.S. crop conditions, key market factors influencing the growing season, and potential opportunities and hurdles for agricultural trade moving forward.
Purdue data show stronger net returns for organic corn and soybeans despite lower yields and higher costs.
Oklahoma State University extension specialist Todd Hubbs joins us for an update on wheat harvest conditions in his state and the key factors shaping marketing decisions.
The report gives producers a mostly stable row-crop balance sheet with sharper signals in wheat and meat markets.
Trade estimates point to only modest changes in U.S. grain ending stocks ahead of USDA’s June 11 WASDE report.