There was a good mix of reports out last night, let’s look at the juicy bits.
IGC, the EU equivalent to the USDA basically, came out with their monthly report that showed world wheat production at a four year low of 732mt. This is back 3mt on last month’s estimate. Consumption was left unchanged at 735mt as was carry over at a burdensome 241mt. Reductions in Australia 22.8mt (24.8), the USA 46.7 (48.6) and the EU 148.1 (149.4) were generally countered to some degree by increases in FSU states. Production estimates in the major exporters were lowered from 373.2mt to 369.5mt.    http://www.igc.int
Saskatchewan published their crop condition report. The durum rating was pegged at 21% Good / Excellent and 30% Poor / Very Poor. The SE and SW ratings have the most weight as that is where the bulk of the durum crop is. SE was rated at only 12% G/E and the SW was rated at 18% G/E. As you move north across the Prairies and away from the US borders crop rating improve and are generally very good in the far north of Sask.
I’ve followed the US spring wheat tour on twitter #wheattour17 was a laugh with some suggesting it should have been recalled #gohomeyourdrunk. Yield estimates were considered a little high by most producers following the tour but in the end tour results confirm the crop in the Dakotas in one of the worst they have had in years and abandonment estimates are too hard to guess.