Wheat bulls continued their assault on the heights (or at least foot hills given the size of the decline in recent months) on Friday.  Kansas City HRW continues to lead the way, with gains of 13 ½ to 14 ¼ on Friday and 64 ¾ for the week. Chicago futures settled only 1 to 5 higher, expected to get the rain that the Southern Plains isn’t. MPLS spring wheat was up 5 ¼ to 6 ¼ cents higher on Friday.

Thursday’s Drought Monitor showed 17.01% of Kansas is now in D2 (severe) drought, up 10.03% from the previous week. Of the whole state, 97.87% is covered in some sort of abnormal dryness. D1-D4 (moderate to severe) drought has also expanded to 35.54% in OK, up 8.84% on the week. IN Texas, D2 (severe) drought was up 3.07% to 11.32%, with 2.05% listed at D3. 

Crop conditions in France were also getting worse, with FranceAgriMer pegging the durum wheat crop at 67% gd/ex, down 3%, and the soft wheat crop at 63% a 1% drop on the week. Eastern Ukraine and Russian wheat areas are also seeing some crop stress.   Indian farmers have been slow to sell to the government, expecting to see higher private market prices later.  Government stocks are at a 16 year low.