Rain-hit U.S. Wheat Crop ‘Slowest on Record’

Due to continuing rains, wheat farmers are experiencing the slowest spring crop harvest on record, reported Agrimoney.com.

While the U.S. Department of Agriculture rates 74% of the corn crop and 72% of soybeans as “good” or “excellent,” rainfall has taken a toll on the condition of spring wheat, with a mere 63% rated good or excellent.

The wheat harvest is only 38% complete, compared with 65% usually finished by now. This is the “slowest pace on record,” according to Brian Henry at broker Benson Quinn Commodities.

In North Dakota, the top spring wheat growing state, scouts said that while “moisture was needed for row crop development, it was beginning to have a negative impact on unharvested small grain crop”.

In Chicago and Minneapolis, spring wheat futures are down, undermined by news of Russia and Ukraine agreeing to a ceasefire in eastern Ukraine. S