Wheat Acres Hit Century Low

Wheat prices are not the only thing that’s dropping according to a USDA report.

USDA Economist Rob Johannson says that acreage for winter wheat has dropped for three straight years and that, “This year we’ll see the lowest winter wheat seedings on record since 1913. We are expecting to see record yield on those acres, but never the less we’re seeing winter wheat acres go down.”

The USDA reports that all wheat acres are down by seven percent.

An updated USDA forecast on wheat and other prices will be released July 12^th.