Wheat futures witnessed a significant drop during overnight trading. French farmers' historical rapid planting has had a notable impact. As of Nov. 18, about 90% of the French wheat crop was planted, surpassing the five-year average of 87%. This was initially delayed due to excessive rain in September and early October. However, the unusually dry weather since then allowed producers to accelerate sowing. "The winter wheat planting campaign has now surpassed the five-year average for the first time," stated the board.

UK Wheat Area Set to Rise in 2025

In a separate statement last week, the Agriculture and Horticulture Development Board (AHDB) revealed that the UK wheat area will increase by 5.4% in 2025. Last year's crop had a reduced planted area due to adverse weather. This shows the potential for growth in the UK wheat sector.

US Winter Wheat Crop Conditions

In the US, as of Nov. 18, 49% of the winter wheat crop was in good or excellent condition, up from 44% a week earlier. The Department of Agriculture is scheduled to release its weekly crop progress report this afternoon. This provides valuable insights into the current state of the US winter wheat crop.

Wheat Futures and Other Commodities

December delivery wheat futures dropped 8½¢ to $5.56 1/4 a bushel overnight on the Chicago Board of Trade. Kansas City futures also lost 9¢ to $5.56½ a bushel. Meanwhile, corn futures for December delivery were down 1¾¢ to $4.33½ a bushel. Soybean futures for January delivery rose 3¢ to $9.86½ a bushel. Soymeal increased by $2.50 to $294 a short ton, and soy oil added 0.28¢ to 42.12¢ a pound. These fluctuations in different commodity futures highlight the complex nature of the agricultural market.

Cattle on Feed and Market Movements

The number of cattle and calves on feed at the beginning of the month showed a narrow increase. As of Nov. 1, about 11.986 million head were on feed, up from 11.956 million a year earlier. In October, roughly 2.286 million cattle were placed on feed, a 5% increase from the same month last year. Fed cattle marketings totaled 1.845 million head, also a 5% increase. Texas led the US with 2.88 million cattle and calves on feed at the start of November, down 1% annually. Nebraska was second with 2.59 million head, up 2% year over year, and Kansas followed with 2.415 million head, down 4%. Placements in October were led by Nebraska with a 2% annual increase, followed by Kansas with a 10% gain and Texas with a 7% increase. These details give an overview of the cattle on feed market and its trends.

Winter Weather Persisting in Northern US

The National Weather Service predicts that winter weather will continue in parts of northern Minnesota, Wisconsin, and the Upper Peninsula of Michigan. In northern Minnesota, another 2 inches of snow is expected on top of the existing snowfall, resulting in a total accumulation of about 6 inches. Tonight, temperatures will drop into the single digits in much of northwestern Iowa, southwestern Minnesota, northeast Nebraska, and central South Dakota. This wintry weather is expected to last through the Thanksgiving holiday weekend, affecting the region's weather and potentially having implications for various activities.