9/4/24 Prices
Category: Pulses News
| The weekly USDA crop progress report was out after the close of business at Chicago. The publication shows corn planting is just 3% against the average of 2%, very early days as yet. Most of that action is happening south of Nebraska, with Iowa and Indiana yet to plant. Sorghum sowing is also underway in Texas where roughly half the projected acres are now in. The crop condition rating for US winter wheat had little change, the GE rating at 56% (G48/E8), the same as last week (G49/E7). This is a mile ahead of this time last year when the crop was rated just 27% G/E. Kansas is rated at 49% G/E. The winter wheat crop is just starting to push a head out in the far south, Texas now estimated to be 27% in head, Oklahoma 1% in head. The weather map for the US look benign temperature wise, mornings across the HRWW are expected to stay well above any need to worry for the fortnight ahead. Western and central Kansas does continue to miss the moisture though, so keep an eye on the crop condition rating there next week. The 7 days forecast for Kansas is also dry. Europe remains in good shape, rainfall there still towards the higher side across eastern France and southern Germany but at the current growth stage of the crop this is not a major concern. Conditions across central Russia and the Black Sea region of Russia and eastern Ukraine remains drier than average. The Upper Volga Valley has had a bunch of rain, as has the spring wheat region of Russia and Kazakhstan, but the main winter wheat regions are getting a little dry according to World Ag Weather. Eastern Turkey, where the bulk of the durum is grown, is seeing an average spring to date. US wheat values were not volatile, the three grades closing either side of unchanged both at futures exchanges and out of the PNW. The stronger AUD will have more of an impact than the futures moves. Paris rapeseed futures and Winnipeg canola futures were both lower, possibly weighing on local bids today. |
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