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Grain Commentary
2017 Pre-Wheat Harvest Thoughts
Thursday June 08, 2017
With wheat harvest a few days out, questions circle around of what wheat will really be like, as they do every year. In the area we live in, there has been a large amount of moisture. This may affect us here in our small area, but in the general population, this may not be a big problem. Not only do we have the moisture to look at, but we also have the area planted to look at. I recently read an article titled "Wheat futures range-bound despite expected smaller crop" on WORLD-GRAIN.COM. On March 31st, The U.S. Department of Agriculture (USDA) forecasted the area planted, for wheat, to be down 8% from 2016 harvest. Based on the facts I read on WORLD-GRAIN.COM, this is the smallest amount of wheat planted in the U.S., in records extending back to 1919. That is 98 years. Even though wheat productions are expected to be lower this year than last, U.S. wheat futures are viewed as range-bound and may even weaken in coming weeks, according to an analyst that was interviewed by Milling & Baking News, a sister publication of World Grain. All in all, Maneval Inc. is hopeful for a successful wheat harvest, as we are every year. We see that the numbers are down as far as wheat planted, but there is potential in the future for wheat.
Below is the link to the article I read. It is interesting to read, and it helps to see where the U.S. is in the big picture of wheat, not just in our small area.
http://www.world-grain.com/articles/news_home/World_Grain_News/2017/04/Wheat_futures_range-bound_desp.aspx?ID=%7B5B0BE847-591A-4060-AF57-4C8042D3C68D%7D