Market News

Informa sees USDA raising wheat production estimate

Ahead of Wednesday’s wheat production estimate, Informa Economics expects the USDA to raise its production estimate slightly.

Informa pegs the 2009 winter crop at 1.513 billion bushels, up 11 million from the USDA’s May guess but down 355 million from 2008 because of smaller planted area. Hard red winter is seen at 881 million bushels, soft red at 422 million and white winter is placed at 209 million bushels.

The average yield is estimated at 44.5 bushels per acre, up .3 from last month but down 2.7 bushels from last year. Informa sees the average hard red winter yield at 37.7 bushels per acre and soft red winter at 59.8 bushels per acre.

The numbers are due out Wednesday, June 10 at 7:30 AM Central.