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Today we go over what planting delays mean for the hard red spring (HRS) wheat.  This market is also known as Minneapolis wheat.  The US plants about 11mm acres of HRS and Canada will plant over 17mm for a combined 28 million acres.  North Dakota accounts for half of all US HRS wheat acres, and makes up about 20% of all HRS production in N. America.  The delays in ND are serious and if farmers can’t plant HRS wheat in the next three weeks they could choose their Prevent Plant option.  To make matters worse, hard red winter (HRW) wheat, also known as Kansas City wheat, is below 30% GD/EX and there is a real concern about production this year.  There is a lot of uncertainty and risk in the wheat market this year, and we haven’t even touched on the Black Sea yet.  If you want to know more, then please take a listen to this week’s Turner’s Take Podcast!

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If you are having trouble listening to the podcast, please click here for Turner’s Take Podcast episodes! Craig Turner – Commodity Futures Broker 312-706-7610 cturner@danielstrading.com Turner’s Take Ag Marketing: https://www.turnerstakeag.com Twitter: @Turners_Take Contact Craig Turner