US - With little change to US and world closing wheat stocks in this week's USDA release and so little change to old crop supply and demand, attention in wheat markets has turned to dry conditions in key US winter wheat regions.
Much of the US Plains received very light rainfall in the last two weeks, with many parts having received less than half of typical precipitation in February.
Further dry weather is forecast for the coming week.
With spring rapidly approaching, crop moisture will become a concern if lack of rain continues.
This could signal yet another year of drought conditions for some US wheat crops heading into the main growing season – but there is still time for rainfall to arrive and revive production fortunes.
The USDA will resume weekly crop condition reporting on 6 April, which is often market influencing data.
TheCropSite News Desk