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USDA Inches Wheat Estimate Lower
WASHINGTON - Aug 11/06 - SNS -- All wheat production in the United States is expected to come in at 1.80 billion bushels, down slightly from the July forecast and down 14% from 2005, according to the USDA's latest crop production estimates.
The number is above the average pre-report trade guess of 1.762 billion bushels, with predictions of the USDA number ranging between 1.724 and 1.802 billion.
Based on August 1 conditions, the U.S. yield is forecast at 38.3 bushels per acre, unchanged from last month but 3.7 bushels below last year.
Winter wheat production is forecast at 1.28 billion bushels, up slightly from last month but 14% below 2005. Area harvested for grain totals 31.1 million acres, unchanged from last month but down 8% from last year. The U.S. yield is forecast at 41.2 bushels per acre, up 0.1 bushel from July 1.
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