Kansas Wheat Turning Brown Shows Drought Damage for Winter Crops

[xchrom]

http://www.bloomberg.com/news/2014-04-28/kansas-wheat-turning-brown-shows-drought-damage-for-winter-crops.html

The waves of grain on David Schemm’s 5,000 acres planted in west-central Kansas are beginning to turn brown after the driest March in Kansas since 1997 hurt crops.

“If it doesn’t rain, I’m not even sure I’ll have wheat to harvest,” said Schemm, 43, who farms near Sharon Springs. Without above-average precipitation in the next two months, he expects yields to fall as much as 36 percent below average after drought compounded damage from freezing temperatures earlier this month.

Growers in Kansas, the biggest U.S. producer, will collect 299 million bushels, down 6.3 percent from 2013, according to the average of 14 analysts surveyed by Bloomberg. Yields may fall 1.3 percent, the survey showed. Severe-to-exceptional drought conditions expanded to 72 percent of the state on April 22, up from 43 percent on March 25, according to the U.S. Drought Monitor. Wheat futures in Chicago gained 16 percent this year.

“We will have a smaller crop than last year, because it’s too late to reverse the drought and freeze damage,” said Shawn McCambridge, the senior grain analyst at Jefferies Bache LLC in Chicago. “Prices will stay firm because Kansas is an important part of determining U.S. supplies.”

[newfie11]

1. There also going to be wheat damage in states that didn't have snow cover on wheat

Once the temps dropped. Between that and drought I think wheat prices will probably be up this year.

[hatrack]

2. Throw in meat, vegetables and fruit . . hell, let's just make it unanimous!

[newfie11]

3. It's going to be interesting for sure.

Prices are going up & up.