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Markets Quiet For USDA Reports
CHICAGO - May 11/07 - SNS -- International agricultural commodity markets finished the week on a relatively quiet note in front of the latest USDA production and supply-demand estimates.
The USDA pegged this year's winter wheat production harvest at 1.62 billion bushels, up 24% from 2006. Hard Red production is up 51% from a year ago to 1.03 billion bushels.
Soft Red is down 11% and totals 347 million bushels. White production totals 241 million bushels, up 7% from a year ago. Of the White production total, 18.6 million bushels are Hard White and 222 million bushels are Soft White.
Production of Durum wheat in Arizona and California is forecast at a collective 16.6 million bushels, up 20% from the previous year.
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