The U.S. winter wheat crop is expected to have a poor performance due to a historically dry winter in key production states, with only 30% of the crop in good or excellent condition as of April 3, according to the U.S. Department of Agriculture. This is significantly below trade expectations and the previous year's figure. The dry conditions are expected to result in disappointing final yields, which is of concern given the current high global wheat prices following the conflict in Russia and Ukraine, and the already tight supply situation. The situation is further complicated by the expectation of drier than normal conditions in the Southern Plains during the critical April rainfall period, due to La Nina conditions expected to persist into the summer.