Snowfall in wheat areas; Futures mixed

Winter wheat areas see beneficial precipitation but worries about freeze damage

Over the past 24 hours, most of Henan received 10-25mm of precipitation while southern Hubei and eastern Shandong received 0-10mm.

Soil moisture in the winter wheat regions was generally still good, but at the beginning of the week, the National Meteorological Center was warning about the possibility of minor localized drought conditions in the coming week or two.

24 hour rainfall map

Thursday also saw relatively late snowfall in Henan. This is raising concerns about damage to crops but the market should have a more clear assessment after the weekend.

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