Solid Increase in U.S. Oat Prospects
WASHINGTON - Aug 13/15 - SNS -- The United States oat crop is forecast at 85.5 million bushels, up 2% from the July 1 forecast and up 23% from 2014, according to the latest USDA production forecast for 2015.
Growers expect to harvest 1.22 million acres for grain or seed, unchanged from July but up 19% from last year. Based on conditions as of August 1, the United States yield is forecast at 70 bushels per acre, up 1.4 bushels from the July 1 forecast and 2.3 bushels above the 2014 average yield. If realized, this will be a new record high yield, 2.1 bushels higher than the previous record high set in 2009.
As of August 2, 43% of the oat acreage was harvested, 5 percentage points ahead of last year's pace but 5 percentage points behind the 5-year average.
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