US soft red winter wheat planting delayed, planted area may decrease by 30%
US soft red winter wheat planting delayed area may decrease by 30%
Due to severe weather and falling spot prices, US farmers may reduce soft red winter wheat planted area by 18 to 20% this year. Last year farmers planted about 8.3 million acres of soft red winter wheat, while total winter wheat planted area was 43.3 million acres.
Persistent rainy weather in the Midwest this year slowed the US corn and soybean harvest, which in turn delayed soft red winter wheat planting. Many farmers usually plant soft red winter wheat after the soybean harvest.
Later wheat planting may lead to lower yields, especially if the winter wheat crop is affected by unfavorable weather. As a result, some farmers facing planting delays have decided to give up planting wheat.
In Illinois, the final planting deadline for soft red winter wheat has passed, so many farmers may consider it safer to apply for prevented planting insurance than to plant wheat.
However, hard red winter wheat planted area may remain stable compared with last year. Growing conditions for hard red winter wheat have been good this year.
JP Morgan analysts expect US soft red winter wheat planted area to decrease by 1.5 million acres.
Persistent rainy weather in the Midwest this year slowed the US corn and soybean harvest, which in turn delayed soft red winter wheat planting. Many farmers usually plant soft red winter wheat after the soybean harvest.
Later wheat planting may lead to lower yields, especially if the winter wheat crop is affected by unfavorable weather. As a result, some farmers facing planting delays have decided to give up planting wheat.
In Illinois, the final planting deadline for soft red winter wheat has passed, so many farmers may consider it safer to apply for prevented planting insurance than to plant wheat.
However, hard red winter wheat planted area may remain stable compared with last year. Growing conditions for hard red winter wheat have been good this year.
JP Morgan analysts expect US soft red winter wheat planted area to decrease by 1.5 million acres.