US Winter Wheat Ratings Out Today

USDA's Washington, DC series of weekly Crop Progress reports starts this afternoon at 3 pm Central. Of the nine states that release their own estimates during winter dormancy, seven of them have reported declines from 11/29 to 3/27. This sets up an uncomfortable situation for today's report. The pre-winter dormancy rating was 44% good to excellent. It is likely this afternoon's number will be a little too close to the all time lowest start for spring, 31%, for the trade's interest. We will follow the general numbers as well as the interplay between hard red (KC) and soft red (Chicago) states. The average trade guess for today's report is 40% good/excellent.

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