Grain Markets
Kansas wheat conditions worsening fast
Northern Kansas wheat only 8–12 inches tall
Crop already heading/flowering too early due to stress
Rain is coming… but too late to matter
Forecasted for early May, but crop is already set
Result: Sharp decline in Kansas wheat production expected
Market reaction:
New contract highs & calendar year highs
Prices at highest levels in over a year
احتمال (outlook) of Kansas wheat reaching $7
Wheat Prices Snapshot
Kansas City (July): ⬆️ 25.5¢ to $6.75½
Chicago (July): ⬆️ 11.25¢ to $6.18¼
Minneapolis:
May: ⬆️ 8.5¢ to $6.73¾
July: ⬆️ 9.5¢ to $6.90½
New Crop:
Sept: ⬆️ 8¢ to $7.05¼
Dec: ⬆️ 7.25¢ to $7.16¾
Corn
Getting pulled higher by wheat strength
Wide wheat/corn spread (over $2)
July: ⬆️ 2¢ to $4.64¾
December: ⬆️ 2.5¢ to $4.84¾
