June 1, 2020
MN Wheat Weekly Update
2020 Spring Wheat Survey is out! Complete online for a chance to win a cooler. ($350 value)
Drought Monitor May 21st vs May 28th (US Drought Monitor)
Yellow = Abnormally Dry
NDSU Cover Crops & PP On-Line Café Talks – Join the Zoom Meeting
- May 27th, June 3rd, 10th, 17th, & 24th
- All dates: 7:30-9:00am
MN Crop Progress Report June 1st (USDA)
- HRS Planted – 97% vs 86% last week vs 93% last year vs 98% 5year Avg
- HRS Emerged – 71% vs 51% last week vs 67% last year vs 88% 5 year Avg
- HRS Jointed – 17% vs 3% last week vs 7% last year vs 27% 5 year Avg
- HRS Crop Condition – 0% Very Poor, 0% Poor, 19% Fair, 53% Good, & 28% Excellent
- Top Soil Moisture – 2% Very Short, 10% Short, 79% Adequate, & 9% Surplus
- Sub Soil Moisture – 1% Very Short, 6% Short, 80% Adequate, & 13% Surplus
Wheat Harvest 2020 (Erica Oakley, US Wheat Associates)
- The 2020 HRW wheat harvest is nearly complete in southern and central Texas with 29% harvested for the state. Intermittent showers have slowed harvest progress in north central Texas and southern Oklahoma, but warmer, drier weather is expected next week. Early sample cutting has indicated good quality with average yields and test weights. USDA estimates 54% of the winter wheat crop is in good to excellent condition.
- The HRW wheat planted area forecast is estimated to be 21.7 million acres (8.79 million hectares), down from last year’s 22.4 million acres (9.07 million hectares). USDA estimates total HRW production at 733 million bu or about 19.94 million metric tons (MMT), down 12% from last year. The industry anticipates the first HRW data will be available in mid-June.
- US Wheat Associates will do weekly harvest reports starting next week. Register here for their weekly updates…good information.
NAWG Update (Josh Tonsager)
Coronavirus Food Assistance Program (CFAP)
Through Farm Service Agency (FSA), producers can apply for assistance beginning May 26, 2020. USDA is accepting application through August 28, 2020.
To help understand CFAP payments, below are a few scenarios that you can use as a guide on your farming operation.
Visit your local FSA office or online at farmers.gov/cfap for more details.
US Wheat Price Report Claire Hutchins
- Short covering, forecasts for hot, dry weather across the Great Plains and broader strength in the grain matrix supported all wheat futures prices week-over-week. CBOT soft red winter (SRW) wheat futures gained 12 cents to close at $5.21/bu. KCBT hard red winter (HRW) wheat futures gained 26 cents to end at $4.70/bu. MGE hard red spring (HRS) wheat futures added 12 cents on the week to close at $5.25/bu. CBOT corn futures added 8 cents to end at $3.23/bu. CBOT soybean futures gained 7 cents to close at $8.41/bu.
- Commercial Sales: This week’s commercial sales of 210,000 metric tons (MT) for delivery in 2019/20, through May 21, were up 19% from last week’s 176,000 MT and within trade expectations of 50,000 MT to 300,000 MT. Year-to-date commercial sales for delivery in 2019/20 total 24.8 million metric tons (MMT), 3% ahead of last year’s pace. USDA’s latest forecast of total 2019/20 U.S. wheat exports is 26.4 MMT, up 3% from last year, if realized. Adjustments in commercial sales are often made as the marketing year ends.