By Jamie Martin
The U.S. Department of Agriculture estimates that wheat production for the 2024/25 marketing year will reach 1.971 billion bushels, a notable 9% increase compared to the previous year and the highest level since the 2016/17 marketing year. This rise comes amidst a long-term trend of declining U.S. wheat production, which has been attributed to farmers shifting their focus toward more profitable crops like corn and soybeans.
Over the last two seasons, however, wheat acreage has experienced an uptick, largely influenced by high wheat prices observed in the fall of 2022. This encouraged many farmers to allocate more land to wheat production for the 2023/24 marketing year.
A major drought affecting key regions that produce hard red winter wheat has negatively impacted the overall harvest volume.
Looking ahead to the 2024/25 marketing year, a decrease in the overall acreage planted in wheat is anticipated. However, more favorable weather conditions are expected to enhance both the area harvested and yield compared to the previous season.
Increased production is projected across various wheat classes, including hard red winter, hard red spring, white, and durum wheat, as growing conditions have generally been beneficial.
Conversely, production of soft red winter wheat is projected to decline by 24% compared to last year’s record levels. Despite this reduction, production is still expected to exceed the recent five-year average. The estimates and forecasts are drawn from the August 2024 Wheat Outlook, updated with the latest data.
Photo Credit: gettyimages-ygrek
Categories: National