Stone X Group Chief Commodities Economist Arlan Suderman says the most significant winds from Wednesday impacted nearly half of the U.S. total wheat production. “The damage is highly variable depending on where you’re at. The worst of the damage was in the wheat that was most drought stricken prior to the event,” says Suderman. “If you look at the central and southern plains rainfall since November 1, it’s the second lowest of the last four decades. Plus, we’d been very warm, keeping wheat out of dormancy. There was a lack of cover in the drought areas, meaning the winds could get a hold of the soil.” Suderman says little to no rain in the forecast is expected to hurt wheat recovery. Total production losses are unclear at this time. Suderman will be watching monthly crop ratings in January and February. The markets responded to the news of the damage.
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