USDA Wheat Estimate Too High, Damage From Heat

July 11, 2012

Wheat production may be overstated in the July USDA report not accounting for damage from record setting heat in the Great Plains. 

The USDA this morning released a new wheat forecast.    Winter wheat production was projected at 1.67 billion bushels and 1% less than a month ago.  The 2012 harvest would still be 12% higher than last year’s drought-reduced production.    Higher wheat plantings,  up 8% on the season,  also contributed to increased production this season.  

The USDA predicted a favorable yield in Kansas up 4% over trend in the 2012 harvest... subscribers continue to full story...

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