Winter wheat yield prospects up from a month ago
Farm and Ranch June 14, 2010 USDA’s estimate of U.S. winter wheat production based on June 1st conditions was up two percent from the department’s May forecast. That’s due to better yield prospects in several states including two in the Pacific Northwest. While Idaho’s winter wheat yields are still pegged at 85 bushels an acre, the outlook for yields in Washington is at 62 bushels, up one from last month and in Oregon winter wheat yields of 62 bushels an acre are up three bushels from May’s estimate.
Compared to May the USDA increased hard red winter production nationally by two percent, soft red up just slightly with white winter wheat up two percent. Right now USDA is estimating total U.S. soft white wheat production this year of 230 million bushels, which compares to 237 million this past year.
USDA has dropped its season national average price forecast for wheat by 20 cents from May to $4.40. Department chief economist Joe Glauber says part of the reason for the lower price is low protein in the hard red winter wheat crop now being harvested.
Glauber: “We are looking for higher levels, 12% or higher, and we have anecdotal evidence that some of this wheat is coming in at lower protein levels of 10% or so,. So that would be traded at a discount and as a consequence that has been some of the concern.”
The USDA expects both U.S. and world wheat ending stocks to increase from this past marketing year.
I’m Bob Hoff and that’s the Northwest Farm and Ranch Report on Northwest Aginfo Net.
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