November 7, 2023


Half of US winter wheat rated as being in good-to-excellent condition




The United States Department of Agriculture (USDA) rated 50% of the US winter wheat crop in good-to-excellent condition on November 6, up three percentage points from the previous week and the highest for this time of year since 2019 as soil moisture improved in the US Plains following a three-year drought.


Better production prospects in the world's number four wheat exporter could ease concerns about tightening global grain supplies. However, winter wheat will not be harvested in the United States until mid-2024, and the crop's potential will be highly dependent on springtime weather.


At 50% good-to-excellent, the USDA's winter ratings topped a range of estimates from 10 analysts, from 45% to 49% good-to-excellent. Winter wheat planting was 90% complete, the USDA reported, behind the analyst estimate of 91% but ahead of the five-year average of 89%.


US farmers continue to harvest corn and soybeans. The corn harvest was 81% complete by November 5, slightly below the average analyst estimate of 82% but ahead of the five-year average pace of 77%. Similarly, the soybean harvest was 91% done, behind the average estimate of 92% but ahead of the five-year average of 86%.


Agricultural meteorologists said a mostly dry weekend aided harvesting, especially in the eastern half of the US Midwest where progress has lagged a bit.


- Reuters

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