Missouri A Rare Bright Spot For US Winter Wheat Crop

Missouri wheat producers are on track to harvest 30 percent more wheat next month.  That’s according to the first Crop Production estimates released Thursday by USDA.  The National Ag Statistics Service says that Missouri farmers should haul in 41.54 million bushels of wheat this season, a net gain of 9.6 million.  The increase comes from a projected 620,000 harvested acres, up 130,000 from a year ago, with yield up two bushels per acre to 67.

Nationally, winter wheat production is forecast to fall eight percent to 1.17 billion bushels, stemming from drought conditions that have engulfed key wheat-producing regions.  Most significantly, USDA forecasts Kansas wheat yield to drop 25 percent to 39 bushels per acre, resulting in a harvest of 271 million bushels.  Oklahoma could see its harvest drop by almost half to just 60 million bushels, falling from second to fifth behind Washington, Montana and Idaho.

However, improved conditions in the Dakotas are giving economists hope that spring wheat production may offset declines in the Plains.  Thursday’s World Ag Supply and Demand Estimates report suggests that all wheat production for the coming marketing year will increase slightly to 1.73 billion bushels.  Combined with Ukraine export potential impaired by Russia’s invasion, this month’s WASDE calls for a season-average farm price of a record $10.75 per bushel, up over three dollars from a year ago.