The wheat market hit new lows today as weather forecasts improved in Russia, the European Union and the U.S. ADM Ag Market View says slow U.S. export demand is also limiting new buying. If accurate, acreage estimates suggest a 2019 wheat crop of 1.935 million bushels this year.
Spring wheat plantings came in at 2% as of April 14, compared to the 10-year average of 13%, according to The Hightower Report. The Dakotas and Minnesota report no planting progress, compared to 10-year averages of 6% for North Dakota, 14% for Minnesota and 30% for South Dakota.
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