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Tidbits, Wheat Pricing, Planting Progress, EV Tariffs, ENSO, Export Inspections 5/14/24

Highlights


Planting progress:

  • The Nation’s corn crop is 49% planted; the 5-year average is 54%.

  • Soybeans are 35% planted; the 5-year average of 34%.

  • Spring wheat is 61% planted; the 5-year average of 48%.

  • Cotton is 33% planted; the 5-year average of 31%.

  • Sorghum is 26% planted; the 5-year average of 26%.

  • Rice is 84% planted; the 5-year average of 72%.

  • Sugar beets are 92% planted; the 5-year average of 65%.

 

Winter wheat crop condition is the same as a week ago at 50% good/excellent. There was a 2% shift from the good category to the excellent category.

 

The Wheat Quality Council’s annual tour starts today and finishes Thursday afternoon. The tour will cover Kansas and parts of Oklahoma and Nebraska.

 

The USDA confirmed Friday it also expects the world will produce less wheat than it will consume for the fifth consecutive year; USDA sees wheat production at 798.19 mil. mts and consumption at 802.37 mil. mts. World rice production is projected to be 527.61 mil. mts with usage of 526.40 mil. mts. Rice is the top competitor of wheat.

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