May 13, 2004

USDA Sees Smaller 2004 Winter Wheat Crop At 1.55 Billion Bushels

U.S. winter wheat production in 2004 is forecast at just 1.55 billion bushels, a 9% drop from 2003, the U.S. Department of Agriculture said Wednesday in its first production report this year. U.S. winter wheat production last year was 1.707 billion bushels.
 
The new USDA prediction fell closely in line with expectations of analysts and traders, who pointed to reductions in hard red winter wheat planting and worse crop conditions than last year.
 
The USDA, in its crop production report released Wednesday, said, "Based on May 1 conditions, the U.S. yield is forecast at 44.2 bushels per acre, 2.5 bushels less than last year."
 
HRW wheat production is forecast at 910 million bushels, 14% less than the 1.063 billion bushels farmers produced in 2003, according to the USDA. White wheat production in 2004 was also lowered. The USDA put white wheat production at about 242 million bushels, 9% less than the 265 million bushels produced last year.
 
The 2004 soft red winter wheat crop, however, is expected to total 399 million bushels, a 5% increase over the 379 million bushels produced last year.
 
 
Source: USDA