Prolonged drought followed by heavy rain has slashed yields throughout the country's wheat belt.
US market analyst Arlan Suderman, from Illinios, says he's tipping an increase in wheat prices as US farmers abandon their crops.
He says Kansas' primary wheat producing area is facing a bleak outlook this year.
"I'm 54 years old now and this is probably the worst crop I can remember seeing in my life," he said.
"In the high plains of Kansas, Oklahoma and Texas, a lot of yields are below 10 bushels per acre and many of those fields are simply stopping and calling their insurance agent and want to leave the residue behind to help hold the soil," he said.
This is a drought that's been one of our worst droughts in the last 80 years or more and it just made it really difficult for the crop to ever get established.
US grain market analyst Arlan Suderman
Mr Suderman says while hard red winter wheat yields will be down, protein and quality levels should remain high.
He says the US' soft red winter wheat yields will be higher and will compete with grain from the Black Sea and European Union.
"We often talk in the United States about the dirty '30s," Mr Suderman said.
"We had a 42 month period of extreme drought in the great plains of the United States.
"Many areas of the plains this year wrapped up a 42 month period that was even drier than that period back in the 1930s.
"This is a drought that's been one of our worst droughts in the last 80 years or more and it just made it really difficult for the crop to ever get established."
Wheat prices have been falling in recent weeks.
Mr Suderman expects the market to turn around, with wheat prices set to bounce back during the next six to eight weeks.
He's tipping the rally will be short-lived and likely to increase between 50c and $1 per bushel.
Mr Suderman says he's closely watching how Australia is affected by a forecast El Nino this year.
"If you do have a more significant drought in Australia that would combine with the problems here in the United States to give us a greater rally in prices," he said.
"But if you don't have the drought there, then I think all we are going to be able hope for is a nice little bounce in the market to sell and then move forward."
One note a friend Emailed two days ago his harvest monitor total after going all day and guess what it said 3 bus a acre average. That's going all day and getting 3. Kind of reminds me of the 2002 Frost.
But like one guys said the market is waiting for information, and the market knows best.
Have a great soggy day. Our crop is doing so awesome. HA HA HA HA!
US market analyst Arlan Suderman, from Illinios, says he's tipping an increase in wheat prices as US farmers abandon their crops.
He says Kansas' primary wheat producing area is facing a bleak outlook this year.
"I'm 54 years old now and this is probably the worst crop I can remember seeing in my life," he said.
"In the high plains of Kansas, Oklahoma and Texas, a lot of yields are below 10 bushels per acre and many of those fields are simply stopping and calling their insurance agent and want to leave the residue behind to help hold the soil," he said.
This is a drought that's been one of our worst droughts in the last 80 years or more and it just made it really difficult for the crop to ever get established.
US grain market analyst Arlan Suderman
Mr Suderman says while hard red winter wheat yields will be down, protein and quality levels should remain high.
He says the US' soft red winter wheat yields will be higher and will compete with grain from the Black Sea and European Union.
"We often talk in the United States about the dirty '30s," Mr Suderman said.
"We had a 42 month period of extreme drought in the great plains of the United States.
"Many areas of the plains this year wrapped up a 42 month period that was even drier than that period back in the 1930s.
"This is a drought that's been one of our worst droughts in the last 80 years or more and it just made it really difficult for the crop to ever get established."
Wheat prices have been falling in recent weeks.
Mr Suderman expects the market to turn around, with wheat prices set to bounce back during the next six to eight weeks.
He's tipping the rally will be short-lived and likely to increase between 50c and $1 per bushel.
Mr Suderman says he's closely watching how Australia is affected by a forecast El Nino this year.
"If you do have a more significant drought in Australia that would combine with the problems here in the United States to give us a greater rally in prices," he said.
"But if you don't have the drought there, then I think all we are going to be able hope for is a nice little bounce in the market to sell and then move forward."
One note a friend Emailed two days ago his harvest monitor total after going all day and guess what it said 3 bus a acre average. That's going all day and getting 3. Kind of reminds me of the 2002 Frost.
But like one guys said the market is waiting for information, and the market knows best.
Have a great soggy day. Our crop is doing so awesome. HA HA HA HA!