The USDA's latest Crop Production report showed that winter wheat production is forecast at 1.68 billion bushels, down 1 percent from the May 1 forecast but 13 percent above 2011. Based on June 1 conditions, the United States yield is forecast at 47.3 bushels per acre, down 0.3 bushel from last month but 1.1 bushels more than last year. Expected area for harvest as grain or seed totals 35.6 million acres, unchanged from May 1.

Hard Red Winter, at 1.02 billion bushels, is down 1 percent from a month ago. Soft Red Winter production is up slightly from last month and now totals 428 million bushels. White Winter production totals 231 million bushels, down 1 percent from last month. Of this total, 14.1 million bushels are Hard White and 217 million bushels are Soft White.