The U.S. hard red winter wheat crop is on the verge of a total collapse for several reasons, including:
As much as 40 percent of the entire HRW region of the southern Plains hasn’t had meaningful (in some areas zero) precipitation in six months. Fall crop stands were planted in very dry soil conditions. Emergence is sparse, and root development is poor. Temperatures collapsed to below zero on several occasions as far south as Oklahoma, and there was no snow cover to protect the crop. It has been warm and windy across most of the southern Plains for the past month. Most of the crop broke dormancy earlier than normal, which is not good when it occurs under such conditions.
Crop condition ratings reflect these issues with 64 per...
What You Need to Know Today: The corn and soybean markets closed slightly higher in low-volume trade. The wheat market was mixed, with HRW continuing its downward trek on improved moisture. As expected, the bearish cattle on feed report drove down cattle prices and pulled hogs down with it. Mi...
Monday, 25 May is a U.S. holiday, and both the markets and our office will be closed. Please note that the next issue of Ag Perspectives will be published on Tuesday, 26 May. The WPI staff wishes everyone a safe and enjoyable holiday weekend...
USDA’s monthly cattle on feed report was released today. The total number of cattle on feed in feedlots with 1,000 head or more capacity amounted to 11.6 million head, 102 percent of last year. Source: USDA, WPI Placements were up, but part of that is attributable to persistent drought c...
