THE WATCHLIST:
US wheat crop drops
Western HRW areas have been on The Watchlist since February. Now, analysts are cutting US HRW wheat forecasts.
AUSTRALIA
Australia’s winter crop regions are mostly dry. Weather forecasts suggest no change over the next week or so. Dryness is not unusual this time of year in most places. Rainfall is usually modest until the end of April. Plenty of time remains for rainfall to accumulate.
Australia’s summer crops are being harvested without interruption.
WORLD
WHEAT
Most northern winter crops continue to have adequate soil moisture and are likely in good condition. Australia has begun planting winter crops.
Yields are likely declining in western US HRW Wheat regions. The region is very dry. Weather forecasters expect little change in the week ahead. The USDA reported that wheat crop conditions in this region were poor. Analysts are now actively cutting their crop forecasts. The issue continues to support wheat prices, especially HRW, but is not likely to do much more on its own. Prospective global wheat supply can absorb these losses. And, US inventories remain hefty.
COARSE GRAIN
No weather issues here for now. Northern summer crop planting has begun.
OILSEEDS
No weather issues here for now. Northern summer crop planting has now begun.
Southern Summer Crops
Watchlist clear for now.
Northern Winter Crops
Southern Winter Crops
Watchlist clear for now.
Northern Summer Crops
Watchlist clear for now.
