Market News & Headlines >> U.S. Winter Wheat Production Seen Down on Poor Yields
USDA is expected to peg 2022 U.S. winter wheat production about 3% below a year earlier when it releases its first survey estimate of new-crop production on Thursday, with lower yields expected to more than offset an increase in planted area.
Historically low winter wheat crop condition ratings from USDA and drought conditions across a large portion of U.S. winter wheat area have the trade expecting yields to be down from last year.
Trade estimates of 2022 U.S. all-winter wheat production average 1.239 billion bushels in a range from 1.146-1.323 billion bushels compared with the final 2021 crop of 1.277 billion, according to a Reuters News Service survey of 23 analysts.
Pre-report estimates of HRW wheat production average 685 million bushels in a range from 568-779 million bushels compared with last year’s crop of 749 million bushels. Trade expectations for SRW wheat production average 359 million bushels in a range from 295-393 million bushels compared with 2021 production of 361 million. And expectations for white winter wheat production average 199 million bushels in a range from 161-237 million bushels compared with 2021 production of 167 million.
Trade estimates of U.S. 2022 all-wheat production average 1.791 billion bushels in a range from 1.635-1.915 billion bushels compare with last year’s crop 1.646 billion. The averages of trade estimates for winter wheat and all-wheat production imply other spring wheat/durum production of 552 million bushels compared with last year’s 369 million bushels.