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Spring Wheat Harvest Pace Picks Up
31.08.2010 13:43 "Agro Perspectiva" (Kyiv) —
The pace of this year’s U.S. spring wheat harvest moved closer to average this past week.
Today’s USDA crop progress report pegged the nationwide harvest at 69% complete as of Sunday, up from 53% the previous week, 36% last year and now just 6 points behind average.
The Minnesota harvest is the closest to completion at 97% finished, compared to 89% a week earlier, 26% last year and 75% on average. In South Dakota, the harvest advanced just 1 point to 95% complete, ahead of 77% the previous year but a couple of points behind average. In the main production state of North Dakota, the harvest was 74% complete, up from 53% a week earlier and ahead of last year and average at 20% and 70%.
The harvest remains delayed in Montana, with producers there just 31% complete as of Sunday. That’s up from only 14% a week earlier but trails last year and average at 40% and 73%.
September Chicago wheat closed 8 3/4 cents higher at US$6.71 ¼ today, as the market continued to find support in world weather problems. In the wake of drought in Russia, traders are now turning their attention to Australia and Argentina, where conditions are also becoming increasingly dry. Australia’s western wheat belt is still suffering from a substantial moisture deficit in some areas. This region produces about half of the country’s wheat crop and the bulk of its exportable surplus.
September Kansas City was 10 1/4 cents higher at $7.10 1/2 and September Minneapolis closed 8 cents higher at $7.15.
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