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Wet Weather Threatens U.S. Winter Wheat Crop
01.06.2010 12:39 "Agro Perspectiva" (Kyiv) —
Wet weather last autumn and this spring is threatening the prospects for U.S. winter-wheat production.
This is the second year in a row that winter-wheat farmers face a disappointing harvest due to smaller planted area and production problems. Another poor-quality crop could weigh on futures prices at the Chicago Board of Trade, where soft red winter wheat is traded, and the Kansas City Board of Trade, where hard red winter wheat is traded, if farmers are forced to sell wheat as animal feed instead of for human consumption.
Soft red winter wheat is used in pastries and snack foods, while hard red winter wheat is used in bread and pie crusts.
On Friday, soft red winter wheat for July delivery ended down 10 cents, or 2.1%, at $4.5775 a bushel at the CBOT, while hard red winter wheat for July delivery at the KCBT settled 11.25 cents, or 2.3%, lower at $4.8150. CBOT winter wheat is down more that 15% so far this year, while Kansas City winter wheat is down 10% so far this year.
Growers are worried again about the risk of head scab and stripe rust, two fungal diseases that reduce quality and yields, because of rain during an important springtime stage of development. Wet weather that delayed planting last year prevented plants from establishing themselves well.
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