Informa Economics, a private analytical firm, yesterday raised its forecast for the U.S. winter wheat harvests amid faster-than-normal crop development and well-above-average government condition ratings.
The winter wheat harvest was pegged at 1.676 billion bushels by Informa, up 1.2 percent from its May forecast, but down 1.1 percent from the USDA’s latest forecast.
Hard red winter wheat production was projected at 1.014 billion bushels by Informa, up 1.3 percent from the firm’s May forecasts, but still down from 18 million bushels from USDA’s May estimate. Production of soft red winter wheat was seen at 426 million bushels, up 1.2 percent from the firm’s prior estimate, down three million from USDA’s May forecast. White wheat production is forecast 2.5 million above USDA’s May forecast, but 20 million below last year, to total 236 million bushels.
The government is scheduled to update its production forecasts next week.