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U.S. 2013 Wheat Carryover Down 3% From January

2/11/2013

U.S. wheat carryover on June 1, 2013, was projected at 691 million bushels, down 25 million bushels, or 3%, from 716 million bushels as the January projection due to a projected 25-million-bushel increase in feed and residual use, the U.S. Department of Agriculture (USDA) said in its World Agricultural Supply and Demand Estimates.

Feed and residual use is projected 25 million bushels higher as weaker cash prices relative to corn support opportunities for increased wheat use in livestock and poultry rations.

The USDA 2013 wheat carryover was below the average expected by the trade that was near 728 million bushels. Wheat futures prices traded higher in Chicago, Kansas City and Minneapolis immediately after the report but later turned mixed.

Except for the increase in feed and residual use and the corresponding decrease in ending stocks, USDA numbers for “all wheat” were unchanged from the January WASDE.

U.S. all wheat production was estimated at 2.269 billion bushels in 2012, unchanged from January and up 270 million bushels, or 14%, from 1.999 billion bushels in 2012. Imports were unchanged from January at 130 million bushels but up 18 million bushels from 2011-12. Total wheat supply was projected at 3.142 billion bushels for 2012-13, unchanged from January but up 168 million bushels, or 6%, from 2.974 billion bushels in 2011-12.

To view the entire report click on the link: http://usda01.library.cornell.edu/usda/current/wasde/wasde-02-08-2013.pdf

Monday, January 18, 2016
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Growers’ help needed to improve crop insurance
Sprout damage from heavy rains in southern and eastern Idaho at the end of the 2014 growing season made evident the inadequacy of current crop insurance for wheat growers, which is based on yields and not quality.

USDA’s Risk Management Agency has expressed a willingness to make changes to the quality standard for wheat by addressing the low falling number scale, but the agency wants to address the issue nationwide and needs strong data to support any changes.
Growers can assist the effort by providing multiple years of settlement data, at least the last six years but preferable the last 10 to 12.

RMA does not need and would prefer not to receive growers’ names, addresses and tax ID numbers.

The data must contain: the year; county and state where the crop was grown (not sold/delivered); quality of production; gross price received; net payment (gross less any dockage, but not considering any storage or shipping fees); test weight; and protein.

In addition, the agency needs at least one of the following: DON/VOM; falling number; or other quality spec of interest.
Growers are asked to send info to Blaine Jacobson at blaine@idahowheat.org.