Indiana Grain Company, LLC

Posted: 02/25/10

By: tomgrisafi

We all found out in early January about the record corn crop the U.S will see this year, but did it come at the expense of wheat production? The U.S Department of Agriculture says wheat product will decline 12%.

Corn harvest has been foreseen at 13.16m bushels, up 200 million bushels than what was originally forecasted earlier this month in the baseline forecast.

Per the USDA ""Net returns to corn production are expected to be much improved from 2009 as fertilizer prices have fallen from their highs during the fall and winter of 2008-09," the USDA.

Winter wheat sowings were cut by U.S farmers to their lowest levels since 1913. This was brought on by weak prices, and delayed corn and soybean harvests that left fields tied up with standing crops.

The USDA also noted "intense competition is coming from Argentine and Brazil in 2010-11. This is projected to scale back U.S exports of soybean meal and oil.

Source: Agrimoney.com

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