Farmers Call Mayday

Blizzard Flattens Winter Wheat; Rains Drown Corn, Soybean Fields.April is known for erratic weather, but the month may have outdone itself this year.Over the weekend, a wintry storm system dumped up to two feet of snow on parts of the Great Plains, flattening a winter wheat crop that was maturing weeks ahead of normal. Meanwhile in the Midwest and Midsouth, relentless rains swelled rivers and flooded freshly planted corn and soybean fields."Precipitation totals ranged from three to eight inches of rain in the Midwest, with heaviest totals south of Interstate 70 in Missouri and Illinois," said DTN Senior Ag Meteorologist Bryce Anderson. "Some reports had over 10 inches of rain. Meanwhile, western Plains wheat incurred possibly extensive damage from snowfall ranging from a few inches to more than a foot. Twenty-plus inches of snow were reported in Oakley, Kansas (northwestern Kansas)."The markets responded accordingly by Monday morning, noted DTN Markets Analyst Todd Hultman. New-crop wheat surged 20 cents; corn and soybeans posted rallies of 10 cents and 14 cents, respectively."This weekend's weather adds to the likelihood that world wheat production will be modestly smaller in 2017 and should help wheat prices stabilize as bearish pressures ease somewhat," Hultman said. "With DTN's National Hard Red Winter Wheat Index still trading near its lowest prices in 11 years, the market is overdue for a more stable, possibly even bullish performance in 2017."The weather has also "tossed a basketball into the USDA's marble game of planting estimates" as Midwest farmers weigh corn and soybean replant decisions in the coming weeks, he added.