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7/29/2021
By Julie Ingwersen
CHICAGO, July 29 (Reuters) - Chicago Board of Trade (CBOT)
wheat futures rose on Thursday, with the front contract rising
above $7 a bushel for the first time in a week after findings
from an annual U.S. crop tour showed the impact of drought in
the northern Plains spring wheat belt.
Corn and soybean futures closed higher on fears that the
drought also may curb corn and soy prospects.
CBOT September wheat settled up 16-1/2 cents at
$7.05-1/4 per bushel after reaching $7.06-3/4, the contract s
highest since July 22. Minneapolis Grain Exchange September
spring wheat ended up 14-3/4 cents at $9.18-1/2.
7/29/2021 By Karl Plume FARGO, North Dakota, July 29 (Reuters) - The average spring wheat yield in North Dakota, the top-producing state, was estimated at 29.1 bushels per acre on Thursday by the annual Wheat Quality Council tour, the lowest on record going back to 1993 due to a severe drought in the northern Plains. The figure was well below the crop tour average from 2015-2019 of 43.6 bpa and the U.S. Agriculture Department s 2021 latest spring wheat yield estimate for the state of 28.0 bpa. The Wheat Quality Council did not hold a tour in 2020 due to the coronavirus pandemic. A severe drought slashed harvest potential for spring wheat, used in pizza crusts and bagels and to increase protein content of lower-quality wheat, sending prices to their highest in nearly nine years as millers, bakers, and global buyers assessed tightening supplies.
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