Contrasting wheat trends - Texas up, Kansas down

Wheat's the word and the USDA’s latest report is chock-full of interesting tidbits. Different states, different fates.  

Chatting with Rich Nelson from Allendale gave some clarity. "USDA has bumped up the wheat production estimates," he mentioned. However, not all varieties saw this boost. 

A total of 1.81 billion bushels this year, a solid 10% jump from 2022. Breaking it down, Oklahoma played it steady. With 4.5 million acres sown, they're looking at a familiar 6.8 million bushels, mirroring last year's numbers. 

Kansas? A bit of a twist in their tale. Though they planted 11% more, they harvested less by 12%. They're bracing for about 201.25 million bushels, sliding down 17% from 2022. 

Texas, the star of the show, is all about growth. With 21% more acres planted and 61% more harvested, they're on track to produce 77.7 million bushels. That's nearly twice the previous year. 

USDA raised corn and soybean yield estimates above trade expectations, sending grain futures sharply lower. Ahead of National School Lunch Week, one Iowa district shows how local farms and food hubs are helping supply school cafeterias — and the costs and logistics involved. Naomi Blohm and Ted Seifried break down the report and what it means for grain markets.