US wheat prices down – HGCA

US wheat saw wet weather over the weekend weigh on prices as dry regions in the Great Plains received some much-needed moisture.

A Kansas wheat crop tour mid-week, comprised of trade representatives, saw evidence of poorly developed fields and widespread abandonment.

However, some areas were not as bad as expected. Latest forecasts put the states 2001 crop at around 8m tonnes, down on last years 9.5m.

Kansas City Board of Trade hard red winter wheat futures ended the week $1.65/t lower.

CHICAGO Board of Trade spot maize futures rose almost $2.70, leading forward positions between $2.30 and $2.60 higher.

Wet weather continued to delay plantings with the latest USDA figures estimating 58% of the crop planted compared to 74% last year.

Farmers aim to get their crop in the ground by the first week of May for optimal yields.