Hello Kansas Wheat. We saw a slew of USDA reports this week, but the only one catching major buzz is Winter Wheat Seedings. This is combined Kansas and Colorado winter wheat acreage; 9600 acres is 88.5% of last year’s.
Kansas and Colorado were not alone; the entire Great Plains HRW acres were only 77.4% of 2016. A red number means the state’s winter wheat acres are the lowest in the past 13 years.
It’s not too hard to assume yields will be down from last year’s record yields as well.
Is this wildly bullish?
It’s certainly not bearish.
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Source: Kansas Association of Wheat Growers