US winter wheat rating jumps more than expected, highest in 6 years

U.S. winter wheat crop conditions rose for a fourth straight week and improved by more than expectedafter timely precipitation across the Plains farm belt this month, according to weekly U.S. Department of Agriculture (USDA) crop conditions data.

The recently planted crop began the season in historically poor shape, but well-timed rains have since boosted crop prospects and eased worries about harvest potential in the world’s No. 5 exporter of the staple food grain.

The USDA said 55% of the winter wheat crop was ingood to excellent condition as of Sunday, up from 49% a week earlier and above the average estimate of 51% in a Reuters poll of 13 analysts. Estimates ranged from 50% to 53% good to excellent.

The rating, which was thestrongest forthe week in six years according to USDA data, marked a notable improvement for a winter crop that began the season with thesecond lowest late-October rating on record.

U.S. wheat farmers have finished planting 97% of their intended winter wheat acres, the USDA said, in line with the average trade estimate.

Rain and snow showers since early November have recharged soil moisture in the Plains and boosted prospects for the crop as it is poised to enter its winter dormancy stage. Widespread drought had clouded crop prospects earlier in the planting season.

Just 40% of U.S. winter wheat production area remained under moderate drought or worse as of Nov. 19, down from 62% three weeks earlier, according to the latest data from the USDA and the National Drought Mitigation Center.

Monday’s report was the final weekly USDA crop progress and condition report of 2024. Reporting will resume in April 2025, the USDA said.
Source: Reuters (Reporting by Karl Plume; Editing by Chris Reese and David Gregorio)