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U.S. Winter Wheat Forecast Down About 20 Percent
May 15th, 2009
The nation’s farmers are expected to harvest about 20 percent less winter wheat this season, in part because of fewer planted acres and exacerbated by floods and other weather conditions, the Kansas Agricultural Statistics Service said.
Nationwide, winter wheat production was forecast at 1.5 billion bushels, down 20 percent from last year. The nation’s production is expected to come from 34 million acres with average yields of 44 bushels per acre. Winter wheat acreage this season is down 14 percent.
“The drought really got Texas and it was the freeze that finished up the better Oklahoma wheat-producing areas. And southern Kansas was touched by the freeze as well,” said Mike Woolverton, grain marketing economist at Kansas State University.
Originally posted by genius/idoit
as a former commodity's trader I can tell you most agriculture commodity's get a false price scare prior to harvest so prices go up and farmers can get enough money to cover their nut