US wheat level improves

The U.S. Department of Agriculture yesterday estimated that 32% of U.S. winter wheat was in good condition, two percentage points higher than the previous week and above average analyst expectations.

But as the drought continues in the plains wheat belt, the index is still one of the lowest ratings ever recorded for this time of year.

The ten analysts voted by Reuters expect, on average, the government to estimate that 30% of the crop is good and good, unchanged from the previous week. Estimates range from 27% to 34%.

USDA’s good / special totals are at a very low level from 2018 to this time of the year – the 14th week of the calendar year.

Winter wheat ratings for week 14 were 32% or four times lower than USDA records in the late 1980s.

The government estimates that approximately 69% of U.S. winter wheat crops are in drought-prone areas.

The decline in global wheat supplies and the conflict between Ukraine and Russia have highlighted the potential for winter wheat production in the United States, two of the world’s largest wheat exporters.

For maize, the USDA has advanced 2% of the planned area of ​​planting, remained unchanged from the previous week and is below the average estimate of 4% by analysts.