U.S. winter wheat crop conditions have shown significant improvement, surpassing expectations following beneficial rainfall in the Plains farming region, according to the latest report from the U.S. Department of Agriculture (USDA).
Crop Condition Update:
As of Sunday, 49% of the winter wheat crop is rated in good-to-excellent condition, up from 44% the previous week. This represents the highest rating for this time of year in five years.
The rating exceeded the average forecast of 46% from a Reuters survey of ten analysts, with estimates ranging from 43% to 49%.
Planting Progress:
U.S. wheat farmers have completed 94% of their intended winter wheat planting, slightly below the three-year average of 96% and just short of the average analyst estimate of 95%.
Impact of Weather:
Recent rain and snow have replenished soil moisture across many areas of the Plains, alleviating earlier drought conditions that had raised concerns about crop viability.
The percentage of U.S. winter wheat production area under moderate drought or worse has decreased significantly, with only 43% affected as of November 12, down from 62% two weeks prior.