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U.S. Winter Wheat Seedings at Six-Year Low
USAgNet - 01/14/2016

U.S. farmers planted the smallest number of acres to winter wheat since 2010, and plantings of one class, hard red winter wheat, were the lowest in at least 30 years, according to government data released on Tuesday. The U.S. Department of Agriculture estimated U.S. winter wheat seedings for 2016 at 36.609 million acres, down 7.2 percent from 2015. The figure fell more than 2 million acres below the low end of the range of trade estimates.

The USDA estimated seedings of hard red winter wheat, at 26.5 million acres, the lowest in records dating to 1986-87.

The data buoyed wheat futures on the Chicago Board of Trade and lifted March K.C. hard red winter wheat futures by about 4 percent, its biggest one-day rise since June.

Also on Tuesday, the USDA said U.S. corn and soybean supplies ballooned to record levels during the last three months of 2015 following bountiful harvests of both commodities and cutbacks in usage. But corn and soybean production was smaller than previously estimated.

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