May 10, 2004

Sparks Peg 2004 US Winter Wheat Output At 1.465 Billion Bushels

Private U.S. analyst Sparks Cos. was said to have estimated 2004 U.S. winter wheat output at 1.465 billion bushels, which is down from the 2003 crop of 1.707 billion.
 
Sparks Cos. also estimated output for hard red winter wheat at 838 million bushels, soft red winter wheat at 393 million and white wheat at 234 million, according to trade sources.
 
Last year, U.S. output totaled 1.063 billion bushels for HRW wheat, 379 million for SRW and 265 million for white winter wheat.
 
Sparks was also said to have issued updated acreage estimates, putting the U.S. corn plantings at 81.5 million, which is up 2.5 million from the U.S. Department of Agriculture March forecast. In 2003, the U.S. seeded 78.7 million acres of corn.
 
The analytical firm was also said to have estimated U.S. soybean plantings at 74.5 million. This is down nearly 1 million from the March USDA report, which pegged plantings at 75.4 million, but up from the 73.4 million seeded in 2003.
 
The USDA is scheduled to release its first 2004 winter wheat production figures May 12. Normally the USDA does not issue changes to acreage, but industry ideas are that the USDA may update those figures in the May reports.