What's up with Wheat

1909 was the last year that winter wheat growers planted as small amount of acreage to wheat that farmers planted in the fall of 2016. US wheat growers have been cutting back on seedings in recent years, they were expected to cut acreage again this season for the fourth year in a row but not by 3.7 million acres, not by almost 10 1/2% from last year. According to a USDA farmers survey, that's exactly what producers have done… Seedings estimated at 32.4 million acres, again, the lowest in 108 years. USDA's chief economist Rob Johansen says at least a part of it is slumping prices: "it's difficult for producers to justify putting that wheat in the ground if they don't expect to break even.” USDA's Outlook chairman, Seth Meyer, says some of the wheat acreage cuts are almost being pushed by… “Competition from other crops” where productivity gains have been higher... “corn, soybeans and that has pushed wheat out in some instances.” That begs the question for this spring, what happens to all that we can land that wasn’t planted with wheat? “Does that area come back as corn does it come back as beans? When you think about where that area is going to end up in the coming year that will be a source of debate coming out in this report.”