The US spring wheat crop is getting off to a decent start, if not quite as good as expected.
Monday’s USDA crop progress report pegged this year’s initial spring wheat condition rating at 64% good to excellent as of Sunday. That is 10 points above last year’s initial spring wheat condition rating, which was not released until mid-June, but still falls a couple of points below the average pre-report trade guess.
The bulk of the year-over-year improvement in the national rating is due to much better crops in Minnesota and Montana. Today’s report put the Minnesota crop at 77% good to excellent as of Sunday, 22 points higher than last year’s initial rating. The Montana crop was rated 58% good to excellent, versus last year’s mid-June rating of just 15% good to excellent. On the other hand, the condition of the North Dakota crop was steady from last year at 67% good to excellent, while the South Dakota crop was just a single point lower at 56% good to excellent.
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