A massive and intense heat dome has spread over the northern Plains and mountain West, sucking moisture out of the soil, and may persist for weeks. The scorching heat and absence of rain have spurred a rapidly intensifying drought that is decimating the region’s wheat crop.
Temperatures in Montana, Wyoming and the Dakotas surged into the 90s and 100s on Wednesday, 15 to 20 degrees above normal, exacerbating a drought covering 47 percent of North Dakota, 34 percent of South Dakota and much of the eastern third of Montana, according to the U.S. Drought Monitor. Rangeland and crop conditions have deteriorated across the region.
“Wheat conditions are at some of the lowest ratings in over a decade,” James Cordier, president and head trader at Optionsellers.com in Tampa, told CNBC. “Spring wheat crop conditions have dropped about 40 percent in the last four weeks.” added Ted Seifried, chief marketing strategist with the Zaner Group in Chicago. “The crop is burning up, and it’s not going to produce anywhere near what we were expecting.”
This hit on the wheat crop means higher prices for high-protein breads, bagels and pizza crusts according to Bloomberg News.
Although prospects for rain in the region are grim in the next two weeks, the Climate Prediction Center does predict drought improvement as the summer wears on.