USDA’s Wheat Forecast Inches Higher

USDA has made a marginal increase to their winter wheat forecast.  The monthly crop production report suggests total production this summer will total 1.14 billion bushels, a one-percent increase from their May forecast.  The increase stems from a two-tenths increase to yield, now at 44.9 bushels per acre.  Yield is still down two bushels from a year ago, but increased acreage has the wheat production forecast up three percent.  Yield increases in major wheat-producing states Colorado, Oklahoma, Oregon, and Texas contributed to the upward forecast.

Projected production in Missouri was left unchanged, with yield remaining at 60 bushels per acre from an anticipated harvest area of 600,000 acres.  Missouri remains on track to produce 36 million bushels, an increase of 46 percent if realized.