30/7/21 Prices

Category:

US wheat futures took guidance from The Wheat Quality Council spring wheat crop tour results again last night.
The WQC tour continue to stress that the US spring wheat crops they are seeing are very variable in yield. The average yield reported was 29.1bu/ac, 1.95t/ha, the lowest estimate since 1993.
Participants measured crops as low as 10bu/ac (0.67t/ha) and up to 41.67bu/ac (2.8t/ha) but generally the spring wheat crops they saw today were poor. Durum crops are also being checked and yields are tracking very close to what they are seeing in spring wheat. If you are on twitter use #wheattour21 to follow.

The cash market across SE Saskatchewan basically followed futures overnight. Spring wheat moved C$3.40 higher for a Dec21 slot and canola slipped C$4.40. Durum was practically unchanged shedding just C$0.63c/t to be bid at C$451.18/t ex farm SE Sask in Dec21.

Russian wheat harvest is progressing but continues to be a bit stop start thanks to showers around the Black Sea region in the far south and rain along the Volga Valley. Dry weather continued across the spring wheat region of Russia and Kazakhstan resulting in a week on week reduction in projected average yield from 3.53t/h to 3.48t/ha. The seven day forecast for Russia basically duplicates the last seven. Showers in the north and dry condition for the spring wheat. Ukraine continues to have pretty much a dream run. Turkey roasts in a heat wave.

TAGS: