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W Texas | Don't think it will budge the major stuff in any way.
Western hay market: will definitely soften short term.
Upland Cotton: minimal effect.
Pima Cotton: it could have a significant negative effect. Could be off 5-10% due to being thinly traded and highly dependent on western water availability.
HRWW: No effect.
Durum: Should soften premiums paid for quality, but little overall change in world market. A big desert crop of Durum may actually help plains growers market the low quality stuff stored up there, as the end users want the high quality to blend the marginal stuff up to snuff.
In the end, political climate in Cali will ensure that the majority of this beneficial precipitation will be squandered -- will literally be allowed to flow into the ocean unimpeded. A rain pipe like this should cure every ill in their long history of water mismanagement and supply irrigation needs for a decade. But it won't happen.
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