USDA Report Update

USDA Report Update

USDA Report Update

I'm KayDee Gilkey with the Market Line Report for July 5, 2012.

The Grain Markets were closed yesterday in observance of the Fourth of July holiday so there is no new market prices to report today so we will examine the most recent USDA Acreage Report which gives the first estimate of spring planted crops.

David Knopf, the Director of the Washington Field Office of USDA’s National Ag Statistics Service, shares more about the Acreage Report update for the Pacific Northwest concerning declining spring wheat acres.

Knopf: “2012 spring wheat acres planted in Idaho, Oregon and Washington totaled 1,000,050,000 acres -- down 26 percent from last year. All states in the region were below 2011. Nationally spring wheat acres are down 3 percent. Acres of all wheat planted in the Pacific Northwest are down 10 percent from last year to 4,335,000 acres.”

Knopf shares the barley acreage update.

Knopf: “Barley acres in the Pacific Northwest region increased 820,000 up 20 percent from 2011. Barley acres increased 44 percent at the U.S. level.”

Knopf says the USDA Grain Stock Report shows declining wheat stocks from a year ago.

Knopf: “All wheat stocks in the Pacific Northwest totaled 67,000,038,000 bushels on June 1, down 16 percent from June 1, 2011. Nationally, all wheat stocks fell 14 percent from a year ago at this time.”

I'm KayDee Gilkey with the Market Line Report on the Northwest Ag Information Network.

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