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Crop Quality Reports - Archive

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PRICE REPORT
The Harvest

May 10, 2013

All three wheat contracts closed lower this week due to a sharp drop on Friday following USDA’s first 2013/14 global supply and demand report. Forecasts for record-large world wheat production, unexpectedly high carryout stocks and a 31 percent increase in U.S. corn production pressured wheat futures. Earlier in the week, HRW and HRS contracts found support from poor crop conditions and slow planting progress, respectively. MGEX May contract lost 1 cent on the week to close at $8.58/bu. CBOT May wheat closed 15 cents lower at $6.97/bu and KCBT fell 19 cents to $7.72/bu.

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Harvest Report

May 17, 2013

Generally, the 2013 HRW crop is 10 days to 2 weeks behind normal compared to 2 weeks ahead of normal development this time last year. Harvest has just begun in extreme southern Texas. Oklahoma is reported to be 29% behind the normal heading date with 46% of the crop rated as poor to very poor. The overall crop from western Texas northward to western Nebraska and east to South Dakota has been devastated by either drought or freeze damage or a combination of both. Some wheat fields in these areas have already been abandoned and will not be harvested, and a few irrigated fields with freeze damage have been baled.

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