Planted acres down, prices up
Washington—U.S. farmers planted less wheat and corn while soybean acreage is up a record 89.5 million acres. Thats according to the USDA’s National Agricultural Statistics Service from their annual summer report.
The report is based on surveys of more than 70,000 farmers from the first two weeks of June and matches the survey from March.
Wheat acreage for all varieties is estimated at 45.7 million, down 9 percent from 2016, representing “the lowest all-wheat planted area since records began in 1919,” according to the report.
Prices are slowing going up, grower Richard Durrant says they could break even this year.
"It's just nice to see. Producers that had dark northern spring are having some good rallies. When we’re getting $7 dollars on that, growers are feeling better. The soft white? we still have a ways to go," said Durrant.
Last March, farmers said they intended to sow 46.1 million acres with wheat. The bulk of the planted area will go to winter wheat, at 32.8 million acres according to NASS.