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An unusually dry autumn in the west-central high Plains is stressing unirrigated winter wheat. Crop condition ratings showed 9-15% of wheat rated poor or very poor in Colorado, Kansas, Nebraska, Oklahoma and Texas as of November 13.
Late-planted wheat may not get enough moisture before dormancy, raising winterkill risk.
Poor establishment in the HRW belt could cut 2017 production and support HRW prices, tightening wheat supplies for feed use.
world-grain.comDrew LernerNov 22, 2016After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
