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Wheat Market Outlook (Feb 11, 2013)
Kansas and Oklahoma offering monthly updates and still no information for Texas. USDA will resume reporting national crop conditions in April.Kansas will begin weekly condition reports in March.
At the end of January, 39 percent of the Kansas crop was rated as in very poor or poor condition with Oklahoma reporting 69 percent in the same categories.
A crop condition index created by multiplying the percent of crop rated as very poor by 1, poor by 2, fair by 3, good by 4, excellent by 5 and summing the results allows a comparison of crop conditions from one time period to another. The bounds of this measure are 100 if 100% of the crop is in very poor condition and 500 if 100% is excellent. Compared to conditions reported in late December the index declined 17 points in a month in Kansas and 23 points in Oklahoma. Kansas accounts for about 2/3rds of the wheat grown in the three state area reported here.
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