WHEAT: WORLD MARKETS AND TRADE
U.S. All-Wheat Acreage Down Slightly: Wheat planted area is expected to continue to decline in 2006, as stated in the NASS Prospective Plantings report on March 31. If realized, it would be the lowest wheat area in more than 30 years. Winter area was up, as better planting conditions allowed for a large increase in Soft Red Winter (See PDF version for chart).
However, this is more than offset by smaller spring area, primarily durum. Durum area is expected to fall by a third to the lowest level since 1961. Canada is also expecting a large decline in durum area, as large stocks and low prices make other crops more attractive.
Domestic: Prices dropped for all wheat classes in March, driven largely by rains and an improving outlook for the Hard Red Winter crop. For the month, HRW prices fell $15 per ton, with SRW down $19 per ton, HRS down $7 per ton and Soft White down $5 per ton.
TRADE CHANGES IN 2005/2006
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Last modified: Tuesday, April 11, 2006