Total 2012/13 wheat supplies are unchanged from May
Total projected supplies for 2012/13, at 3,134 million bushels, are down 3 million bushels from June with lower imports. Supplies for 2012/13 are 160 million bushels above 2011/12. Higher production (+270 million bushels) and imports (+11 million bushels) more than offset lower beginning stocks (-119 million bushels) year to year.
Projected supplies of HRW, HRS, and durum wheat are up year to year, mostly because of higher production. HRW production is up 224 million bushels, with higher planted area and a smaller abandonment rate compared with the previous year. Yields are also higher year to year because of the recovery from the severe drought in the Central and Southern Plains the previous year. HRS and durum production are up 107 million bushels and 32 million bushels, respectively, from a year earlier, with larger harvested areas and higher yields. Production for these two classes of wheat recovered from the previous year when excessive moisture and cool temperatures in the Northern Plains resulted in late seeding and prevented plantings.
Projected supplies of SRW and white are down from 2011/12. Both classes had lower production for 2012/13, down 38 million bushels and 55 million bushels, respectively, on the year. Production is down for both classes because of smaller harvested area and lower yields. SRW planted area was down because a late row-crop harvest delayed fall plantings in the Corn Belt and Northeast.
All-wheat 2012 production is estimated at 2,269 million bushels, unchanged from June but up 270 million bushels from 2011. The all-wheat harvested area is estimated at 49.0 million acres, unchanged from June but up 3.3 million acres from the previous year. The U.S. all-wheat estimated yield is 46.3 bushels per acre for 2012, equaling the 2010 record. The yield is unchanged from June but up 2.6 bushels per acre from the previous year.
Total 2012/13 carryin stocks, estimated at 743 million bushels, are unchanged from June but down 119 million bushels from 201 1/12. Carryin stocks are down year to year for all classes except SRW. All-wheat imports for 2012/13, at 123 million bushels, are down 2 million bushels from June, with minor by class changes.
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- Ag futures ended the week in decidedly mixed fashion
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- Ag markets remained quite mixed at noon Friday