Prices 4/5/17

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The trade in the USA are growing tired of waiting for nature to reveal the extent of the damage to the Kansas wheat crop after last weekends snow storm. The bulls need feeding everyday is the old saying.
The areas around the Oklahoma pan handle seem worse hit due to the 40mph to 50mph winds that pushed through with the storm. The snow was heavier to the NW but the main damage coming from the winter wheat tour seems to be from broken stems in the SW.
The tour reports are mixed, many crops are flat in western Kansas but many are expected to recover as they are not in head yet.
Kansas yields are mixed but maybe a smidge lower than last year, final reports will tell though. They are seeing a lot of stripe rust and barley yellow dwarf virus too. If you are on Twitter follow KansasWheat.

Keep an eye on Ukraine wheat crops the dry weather in the central north isn’t getting any better. In the last 60 days they have seen between 25% & 50% of their normal rainfall. This is not only having an impact of wheat yield potential but also on spring sowing area. Central Russia isn’t much better but good seasons to the south may help cap Russian production losses.
France and Spain are also worth watching as heavy frosts are expected to have damaged flowering wheat there in late April.

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