Agricultural News
Oklahoma Wheat Crop Predicted at 115.5 Million Bushels- Off 25% from 2012
Fri, 12 Jul 2013 03:12:46 CDTOklahoma's July 1, 2013 wheat production is forecast at 115.5 million bushels, up 1 percent from last month, but 25 percent below last year, according to the July Crop Production report issued today by the USDA-NASS Oklahoma Field Office. Acres harvested for grain, at 3.5 million, are down 0.3 million acres from the previous month, and down 0.8 million acres from a year ago. Average yield is forecast at 33 bushels per acre, up 3 bushels from last month, but down 3 bushels from 2012. The 2013 Oklahoma crop is well above the estimate of scouts that reported in early May at the Oklahoma Grain and Feed Association, who saw only a 84 to 85 million bushel crop across the state after a series of freeze events had followed a very dry fall and winter season.
CLick here for the July Oklahoma Crop report.
The United States' winter wheat production is forecast at 1.54 billion bushels, up 2 percent from last month, but down 6 percent from 2012. Based on July 1 conditions, the U.S. yield is forecast at 47.8 bushels per acre, up 1.7 bushels from last month and up 0.6 bushels from last year.
Selected states' winter wheat production and the change from 2012 include Kansas, 328 million bushels, down 14 percent; Washington, 113 million bushels, down 5 percent; Texas, 64.0 million bushels, down 33 percent; and Colorado, 49.5 million million bushels, down 33 percent.
Meanwhile- beyond the hard red winter wheat crop in the southern plains- the latest World Agricultural Supply and Demand Estimates report shows no change in the projected corn and soybean yields. The 2013 corn yield is projected to be 156.5-bushels per acre. The soybean yield is forecast at 44.5-bushels per acre. American Farm Bureau Federation Economist Todd Davis notes corn production is down slightly from June though. Due to slightly lower harvested acreage expectations - the corn crop is now projected at 13.95-billion bushels - a slight decline from the 14-billion bushel projection in last month's report. Despite the decrease - Davis points out corn production is still on target for a record-setting year if realized. Davis says the soybean crop could be record-setting as well if the 3.42-billion bushel production forecast is obtained.
Corn and soybean acreage reflected the acreage survey released June 28th - which meant an increase of corn planted acres to 97.4-million and soybean planted acres to 77.7-million. A dip of 50-million bushels to 1.25-billion is expected for 2013-14 corn exports due to a later harvest and tight old crop corn stocks. That would be an increase of 550-million bushels from the 2012-13 marketing year. Davis says the estimate may be optimistic because of South American competition. Corn ending stocks are estimated to build significantly - from 729-million in 2012-13 to a projected 1.959-billion for 2013-14. Davis notes the projections are higher than the trade pre-report predictions of 1.88-billion. He says the elevated corn ending stocks predictions will reflect negatively on marketing-year prices - reducing the estimated 2013 farm price to $4.80 per bushel from $6.95 per bushel in 2012.
U.S. soybean ending stocks are expected to more than double from the 2012-13 marketing year - projected at 295-million bushels for 2013-14. That's an increase from 265-million bushels in June's WASDE report. The increase will lower the 2013-14 projected soybean price to $10.75 per bushel from $14.40 per bushel in the 2012-13 marketing year.
Click here for the July 2013 USDA Crop Production Report from NASS at the USDA.
Click here for the July World Ag Supply and Demand report as released from ERS of the USDA.
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