Winter Wheat Supplies Increased In Latest USDA ReportsWed, 12 Jun 2013 17:51:32 CDT
The USDA raised its projected U.S. winter wheat supplies for 2013/14 in its latest World Agricultural Supply and Demand Estimates report and in its Crop Production Report. The overall increase is pegged to an increase in beginning stocks and higher forecast winter wheat production.
Beginning stocks are up with a 15-million-bushel reduction in 2012/13 exports as May shipments fell below expectations. Projected production for 2013/14 was raised 23 million bushels as higher yields boost forecast production of hard red winter wheat in the Southern and Central Plains and soft red winter wheat across the South and Midwest.
Winter wheat production is forecast at 1.51 billion bushels, up 2 percent from the May 1 forecast but down 8 percent from 2012. Based on June 1 conditions, the United States yield is forecast at 46.1 bushels per acre, up 0.7 bushel from last month but down 1.1 bushels from last year.
In Oklahoma, producers are expected to harvest 3.8 million acres compared with 4.3 million last year. The USDA did not change the estimated yield per acre from its May report of 30 bushels to the acre compared with 36 last year. Total production is expected to be 114 million bushels compared with 154.8 million last year.
You can read the full WASDE report by clicking here.
Click here for the latest Crop Production report.
Click on the LISTEN BAR below to hear an analysis of both reports from Tom Leffler of Leffler Commodities.
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