U.S. Department of Agriculture
State-by-state breakdown of Pro Farmer’s weighted Crop Condition Index shows condition in all HRW wheat states below year-ago.
Wheat rose to the highest in almost five weeks on speculation that U.S. farmers will plant fewer acres with spring varieties due to cold weather.
State-by-state crop and weather report details.
The historic 2012 drought is far from over, but it has at least subsided in parts of the country.
Scarce stocks could send prices soaring or crashing just as they did in 2008 and 2009, when prices rose to record-highs only to crash following the Great Recession.
Even though stocks are declining, supply remains secure worldwide.
But small by-class adjustments are made to projected exports and stocks.
USDA sees wheat crop down 40% from last season.