Winter Wheat Crop
Down Nine Percent
WASHINGTON (AP) With wheat prices in the
doldrums, American farmers will harvest a winter wheat
crop down nine percent from last year at 1.71 billion
bushels, the Agriculture Department is forecasting.
Early predictions for the nation's corn crop,
meanwhile, indicated farmers will bring in 9.64 billion
bushels, while soybean production is tentatively
projected to be up three percent from last year's record.
Farmers are expected to harvest more than one million
acres less winter wheat than last year, when average
prices topped $4 a bushel. This year's crop could sell at
just over $3 a bushel, leading many growers to switch to
other crops.
Kansas, the leading winter wheat state, expects a crop
of about 377.4 million bushels, down from 506 million
bushels in 1997.
Three-quarters of the winter wheat crop rated good or
better as of May 3, its best condition at this stage of
development since 1993. Scattered freezes have had very
little impact; overall yields are estimated at 42 bushels
per acre.
Including spring wheat just now being planted, total
U.S. wheat production this year is projected at 2.3
billion bushels, a seven percent drop from last year.
Despite the lower crop estimate, prices will remain
depressed because more wheat remains in storage from last
year and export demand is weak. At the same time, U.S.
growers face a strong challenge from the European Union.
"Competition for markets will remain
fierce," the Agriculture Department predicted.
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