Grain markets hate uncertainty — and uncertainty is rampant on the Northern Plains this summer after an exceptionally wet spring.
As the National Sunflower Association says in its latest electronic newsletter, “Weather in Canada and the U.S. will have the markets guessing all summer long on potential crop sizes.”
How many acres of crops such as wheat, barley, corn and sunflowers went unplanted in the region because of wet conditions? How will late-planted fields fare? Will the summer be unusually cool?
These questions are particularly important because stocks (grain in storage) are lower than the markets like. So any shortfall in production could have a bigger impact than usual.
North Dakota has a big stake in what happens because it’s the nation’s leading producer of some of the crops, including durum wheat and canola, that the markets are watching closely.
Every summer is interesting for farmers on the Northern Plains. This summer may even get a little crazy.
