US wheat futures of all three grades failed to follow corn futures higher overnight. The biggest loser was spring wheat futures. The 7 day weather forecast for the US shows falls of up to 20 – 40mm pushing across the dry parts of the US spring wheat belt and Canadian Prairies during the week.
US spring wheat sowing also showed good progress, now at 85% sown. With moisture on the way this will see a good portion of the spring wheat crop benefit from the rainfall as germination is estimated at 47% out of the ground.
There was a little bullish news out but the market continues to focus on downward pressure at present. US winter wheat dropped 1% to 48% Good to Excellent in the weekly crop progress report. US weekly wheat export inspections were also solid at 658.5kt.

There was talk of potential damage to the Chinese winter wheat crop from recent bad weather. China’s Ag Ministry noted “disastrous weather” conditions, referring to heavy rain, hail, and strong winds, in the wheat area along the Yangtze River that could adversely affect the crops during the vital fill stage. World Ag Weather shows 150 – 250mm of rail has fallen across wheat fields 150 – 300km inland from Ningbo, as far west of the SE of Hubie province west of Wuhan. Southern Henan province also saw 75 – 100mm of rain. The Chinese crop is roughly at the same maturity as the US crop, so about 50% in head. The region’s most heavily impacted produces around 25% of the Chinese winter wheat crop. Winter wheat contributes to 95% of the Chinese total wheat production, estimated at 136mt in this month WASDE report.