Winter wheat conditions improve in HRW regions as rains fall

The eventual onset of rains across the US Southern Plains has seen improved winter wheat ratings for this year’s long-suffering crop, data released by the USDA’s local offices showed late Monday.

Kansas, the US’ biggest hard red winter wheat producer, saw the wheat graded “poor or very poor” improve six percentage points on the week to 49%, while “good or excellent” improved two percentage points to 13%.

In Colorado, “poor or very poor” wheat improved six percentage points to 21%, while “good or excellent” improved eight percentage points.

The picture in Texas was more mixed as “poor or very poor” wheat fell a further three percentage points to 63%, while “good or excellent” wheat improved two percentage points to 12%.

While the USDA’s latest drought monitor – released March 22 and reflecting data up to March 20 –  shows 39% of the planted winter wheat area remains in an area experiencing drought, the market has responded to an improvement in conditions in recent weeks.

And with rains forecast to continue to fall over some of the worst-affected HRW-growing regions in the coming weeks, the market has tumbled, with the front month HRW contract dropping 16% from a high at the start of the March to two-month lows last week.