The previous early look at potential U.S. 2018 wheat production (see Ag Perspectives, 9 March), using the table below, was before last month’s release of the USDA planting intentions estimates.
WPI has no reason today to change its estimate of the potential 2018 hard red winter wheat crop, reduced to 625 million bushels from 750 million bushels in 2017. In fact, there are other estimates now that are similar. We also continue project total U.S. wheat production at 1.650 billion bushels versus USDA’s February Outlook forecast of 1.840 billion bushels. Following are the reasons why:
It still hasn’t rained across most of the key hard red winter wheat production region of the southern Plains. This crop has also suffered...
What You Need to Know Today: Russia rejected calls for a ceasefire in the Black Sea, including a proposal to halt attacks on civilian shipping that could help restore grain flows from Ukrainian ports. Tyson Foods announced plans to permanently close its Joslin, Illinois, beef processing facili...
The big news in the cattle markets yesterday was Tyson Foods’ move to close two more beef plants. One of them, the Joslin, Illinois, plant was shuttered immediately after the announcement. The other, in Eagle Mountain, Utah, is a case-ready plant that does not slaughter cattle. Tyson also...
The Bureau of Labor Statistics (BLS) released the Consumer Price Index (CPI) on Wednesday. In July, the CPI rose 0.1 percent, seasonally adjusted, and rose 3.4 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy, or the “core” infla...
