Market News & Headlines >> U.S. Wheat Crop Seen Little Changed From June
USDA is not expected to change its estimate of the total 2019 U.S. wheat crop significantly when it releases its monthly Crop Production report on Thursday morning, although the report will contain the agency’s first survey estimate of 2019 other spring wheat/durum production.
Trade estimates of all-wheat production average 1.908 billion bushels, just 6 million above USDA’s June estimate, in a range from 1.867-1.950 billion bushels, according to Reuters News Service survey.
Pre-report expectations for total winter wheat production average 1.277 billion bushels in a range from 1.231-1.300 billion bushels compared with USDA’s June forecast of 1.274 billion.
Trade estimates of HRW wheat production average 799 million bushels, up from USDA’s June forecast of 794 million, while pre-report estimates of SRW wheat output average 255 million bushels versus USDA’s June estimate of 258 million. White winter wheat production, on average, is expected to come in at 223 million bushels, up a mere 1 million from June.
Pre-report estimates of other spring wheat production average 569 million bushels in a range from 513-617 million compared with last year’s crop of 623 million bushels. Trade expectations for durum wheat production average 59 million bushels in a range from 44-77 million compared with last year’s crop of 77 million bushels.