The National Weather Service has issued freeze warnings and watches as well as frost advisories for much of the Northern and Central Plains as a cold high pressure system is expected to settle the regions behind the recent cold front that brought rain and even some snow to the Midwest. “High temperatures are forecast to be 25 to 35 degrees below average across the Central High Plains on Thursday and the Southern High Plains on Friday,” NWS details.
As of May 2, 14% of Kansas’ winter wheat crop was headed, 64% of Oklahoma’s and just 1% of Nebraska’s, according to USDA statisticians. Besides posing a threat to winter wheat crops, the cold temperatures slow the drying of soils that’s needed to get farmers back to planting soybeans and corn. The cool temperatures could also slow germination of what seed has already gone into the ground.
But the markets are more focused on prospects for drier weather next week, U.S./China trade talks, technically bearish charts and a general lack of weather threats in other major wheat producing areas around the world.