Mar 16, 2021

Winter Wheat Conditions Report

Acreage in U.S. is higher versus a year ago

Reminder to Participate in FBN’s Acreage Poll

  • To complete the acreage poll, click here.
  • Thank you to those members who already have completed the poll.
  • There are several reasons why participation is encouraged.
  • First, USDA’s March Prospective Plantings report will be one of the most closely watched reports released by USDA in years.
  • That means there could be big swings in futures values.
  • Second, Our 20,000 FBN farmers are in a unique position to share their acreage intentions for their own benefit, which is a key tenant of FBN’s mission - helping farmers; we want to use your data to benefit you.
  • Finally, results will be provided March 19 in a formal report to be emailed on March 20, several days prior to USDA’s report, giving you time to make pricing decisions.
  • The report will include guidance on any marketing strategies based on the results of the poll as well as our opinions on fundamentals.

FBN’s Take On What It Means: We encourage all members to participate. This will give FBN key insights ahead of USDA’s report on March 31, which likely will be market moving. In essence, the more participation we have the better our results will be and the better positioned you can be ahead of March 31.

FBN
FBN

U.S. Winter Wheat Conditions as of March 14

  • Several Southern Plains states are reporting winter wheat conditions.
  • Kansas reported its crop was rated 38% good to excellent, up two points from the previous week but below last year’s 46%.
  • For Oklahoma, the latest rating came in at 57% good to excellent, up from 53% last week but below last year’s 67%.
  • In Texas, the crop was rated 27% good to excellent, unchanged versus a week ago and below last year’s 36% rating.
  • The Texas crop is 22% headed; in Oklahoma, 15% of the crop is jointing.
  • Current conditions are slightly below average for Texas and Kansas but above average for Oklahoma.

FBN’s Take On What It Means: The latest moisture across the Southern Plains will benefit the crop but we still are weeks away from the peak of moisture needs. Acreage in the US is higher versus a year ago, so the stage is set for a larger crop. But, weather in April/May will be key in determining final yields.

FBN Market Advisory services are offered by FBN BR LLC, dba FBN Brokerage, FBN BR and FBN Market Advisory (NFA ID: 0508695)

The risk of trading futures and options can be substantial and may not be suitable for all investors. Past performance is not necessarily indicative of future results.

This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to, persons residing in Australia and Canada.

Kevin McNew

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Marketwatch: Aug, 14

US Corn Price Idx: ZCPAUS.CM

open: 6.894
high: 6.9955
low: 6.7606
close: 6.9734

US Soybean Price Idx: ZSPAUS.CM

open: 14.9677
high: 15.1495
low: 14.6316
close: 14.9849

US Hard Red Winter Wheat Price Idx: KEPAUS.CM

open: 8.3063
high: 8.4762
low: 8.1366
close: 8.432

US Soft Red Winter Wheat Price Idx: ZWPAUS.CM

open: 7.4954
high: 7.5664
low: 7.3014
close: 7.5356