US Plains hard red winter wheat basis bids were mostly steady on Tuesday, with a let-up in rainy weather opening a window for the harvest to pick up pace in parts of Oklahoma and Kansas, traders said.
"It's stopped raining, and we are going to be dry this week," said a trader in northern Oklahoma, adding that more farmers were expected to begin harvesting their crop by the end of the week.
A trader in Wichita, Kansas, said he was expecting the harvest in his area to pick up by the end of the week. "It has stopped raining here, but it's still humid and overcast," he added. USDA said in its weekly crop progress report on Monday that 11 percent of the US winter wheat had been harvested as of last Sunday, which was below the 20 percent five-year average.
The agency said the condition of the winter wheat crop in Kansas, the top wheat producing state in the United States, was 34 percent good-to-excellent as of Sunday, down from 35 percent the previous week.
Comments
Comments are closed for this article.