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PRICE REPORT
The Harvest

June 14, 2013

All three wheat futures closed lower this week due to harvest pressure and reports of larger crops in the U.S. and Australia, the top two wheat exporters. U.S. winter wheat harvest began last week, weighing on markets. A sharp drop in corn value mid-week also added pressure to wheat markets. The KCBT July saw the largest loss of the three nearby wheat contracts, down 27 cents to $7.12/bu.

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Harvest Report

June 14, 2013

HRW harvest is in full swing from north Texas to the Kansas state line. While test weight and protein are very good in the early samples, shrunken kernels and small kernels are prevalent, likely reflecting the drought and freeze conditions widely affecting the crop.Producers and elevator managers have reported yields averaging from 15 bu./ac to 25 bu./ac (1.0 to 1.7 tons/ha). Test weights are averaging from 58 lb to 60 lb/bu (76.4 – 78.9 kg/hl). Early individual location have reported protein ranging from 10% to over 17%, but have generally averaged between 13% and 14%.

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