Analyst says Russian wheat planting delays are the weather headline
A market analyst contends the biggest weather story right now has nothing to do with South America, corn, or soybeans.
Don Roose is the president of U.S. Commodities in West Des Moines, Iowa.
“When you talk about weather, I think probably more significant is the largest wheat exporter in the world, Russia, and southwest Russia in particular, is in a dry drought condition on their wheat.”
He tells Brownfield Russian farmers are up against the clock.
“They have to get the wheat planted before the first of November. If you look at the latitude, it’s kind of similar to southern Minnesota. So they have to get this planted before it freezes and get some emergence going.”
While Brazilian planting delays have strengthened the soybean market, Roose says wheat is currently the upside leader.