Winter Wheat Crop Up Over May, Down From 2019

According to the latest USDA numbers, the June winter wheat crop increased 1% from May's numbers. However, the national winter wheat crop is down 3% year-over-year. USDA Chief Economist, Rob Johansson said yields are forecasted down from last year's average yield, but at just over 52 bushels an acre for 2020, that is "probably about the third highest yield for that crop however, second lowest since 2002 and a record low on the harvested acres so we'll see some of the acreage leave the wheat crop for other crops, a continuing trend there."

In terms of winter wheat varieties, a slight production reduction for soft red winter is offset by expected 1% production increases for both hard red winter and white winter wheat varieties.

"Looks like our estimate of productions is on the high on the trade range, but while it's on the high end of the range it's pretty tight so probably not to much of a surprise," Johansson added.

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