WICHITA, Kan. (AP) -- Fall rain across the central Plains has helped get the 2012 winter wheat crop off to a good start.
But commodity market watchers are eagerly anticipating Wednesday's release of the U.S. Agriculture Department's latest estimate of the available world wheat stock. That report will be issued amid already volatile prices and a forecast for continued drought in the nation's breadbasket.
Last month's snapshot depressed wheat market prices because projections of available stocks were higher than expected for the current marketing year. Projected U.S. wheat production was down last month, but the available supplies were up because of lower exports and lower wheat feeding projections.
Kansas State University economist Dan O'Brien says expectations for the November estimate are for world wheat stocks to be down marginally.
Copyright 2011 The AP.