U.S. Wheat Production Estimated at Highest Level in 8 Years
U.S. wheat production for the 2024/25 marketing year is projected at 1.971 billion bushels, a 9% increase from the previous year and the highest since 2016/17. This growth counters a long-term decline in wheat production due to farmers switching to crops like corn and soybeans. However, wheat acreage has risen over the past two seasons, driven by high wheat prices in late 2022. Despite these acreage gains, a drought in hard red winter wheat regions limited harvests. For 2024/25, better weather conditions are expected to improve both harvested area and yields across most wheat classes, except for soft red winter wheat, which is down 24% but still above the 5-year average.
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