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USDA NASS Predicts 8% Increase for Winter Wheat Crop

USDA NASS Predicts 8% Increase for Winter Wheat Crop

Based on May 1 conditions, Nebraska's 2021 winter wheat crop is forecast at 36.7 million bushels, up 8% from last year's crop, according to the USDA's National Agricultural Statistics Service. Average yield is forecast at 47 bushels per acre, up 6 bushels from last year. Acreage to be harvested for grain is estimated at 780,000 acres, down 50,000 acres from last year. This would be 87% of the planted acres, below last year's 92% harvested.

May 1 hay stocks of 1,000,000 tons are down 28% from last year.

Source : unl.edu

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???? Wheat surges on drought: Prices jumped to multi-week highs as worsening dryness grips the Plains, with 70% of winter wheat in drought. Corn edged higher, while soybeans slipped.

??????? Mixed weather pattern: Rain improved parts of the Corn Belt, but drought worsened elsewhere—especially the High Plains and Kentucky. Nebraska conditions sharply deteriorated, with 56% in extreme drought.

????? Oil spikes on tensions: Crude climbed over 3% near $96 as Iran keeps the Strait of Hormuz restricted, while fragile ceasefires keep geopolitical risk elevated. ???? Pulses gain favor: Farmers are shifting to peas and lentils as a rare profit opportunity, driven by strong protein demand and lower input costs.

???? Exports mixed but solid: Corn sales dipped week-over-week but remain strong overall; soybean and wheat sales showed mixed trends, with steady global demand.