Informa Economics, a closely watched crop forecaster, Friday estimated U.S. farmers harvested 14{6b02cb02835b82b7f756ddf6717aaab7139b350de274ea97f5b53eb230607107} more wheat this year than last year, according to traders.
The firm pegged U.S. wheat production, for the 2012 harvest at 2.273 billion bushels, traders said. That is up from 1.999 billion bushels last year and above the U.S. Department of Agriculture's forecast for a harvest of 2.268 billion bushels this year.
Informa estimated output of hard red spring wheat in 2012 at 486 million bushels and output of hard red winter wheat at 1.002 billion bushels, traders said. The USDA recently pegged hard spring wheat output at 463 million bushels and hard red winter wheat output at 1.012 billion bushels. Informa estimated the 2012 soft red winter wheat crop at 425 million bushels, below the USDA's latest estimate for 435 million bushels, traders said.
The USDA is slated to update its wheat output estimates next Friday.
Source: DTN
Posted by Northern Ag Network
