YIKES - Will The Supply Meet The Demand For US Wheat?

The 2006 crop, reduced by fewer acres and fewer rains, will not contribute much to the total supply, should the 2007 crop also be reduced from the weather. However the acres devoted to the 2007 crop will be 60.3 million, up 3.0 million or 5% from 2006, according to the USDA's March 30 acreage and planting intentions report:
1) 2007 winter wheat is forecast at 44.5 million acres, 10% above last year.
2) Growers intend to plant 13.8 million acres this year of spring wheat, down 7% from 2006.
3) Area seeded to durum wheat is expected to total 2.0 million acres, up 6% from 2006. Durum planted area in 2006 was the lowest since 1961.
4) Soft white wheat planted area is expected to be 3.8 million acres for 2007, up from 3.7 million acres in 2006. Hard white wheat planted area is expected to be 0.7 million acres for 2007, up from 0.6 million acres in 2006.

 

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