2014-15 Wheat Production Guide

The 2014-2015 UGA Wheat Production Guides are now available. If you need a hard copy, we can print one off. You can download the pdf at the link above.

2014-15WheatGuide

There is a lot of economic information found in the guide. Below is information from UGA Extension Economist Dr. Nathan Smith on Georgia production:

NathanSmith

 

Georgia planted acres dropped by a  third to 300,000 acres and harvested acres dropped 28% to 250,000 acres. Georgia’s average yield is estimated at 55 bushels per acre, falling 5 bushels from last year’s record wheat yield of 60 bushels per acre. Producers had problems harvesting wheat as less than 25% of the crop was harvested by June. As a result quality was also a concern and producers were faced with discounts.

Wheat prices were down over much of the year, and took a turn for the worse when a large 2013 Canadian wheat crop was realized. Monthly SRW wheat prices ranged between $5.90 and $6.92 during June 2013 and May 2014. The 13-14 marketing year started near $7.00 per bushel but dropped below $6.00 during harvest. Cash prices going into planting season for 2015 crop were below $6.00 per bushel, with basis at 65 cents under July futures before improving to 50 cents under. Wheat fundamentals are considered bearish going to 2015 as record global production is projected again. Wheat planting in Georgia will likely fall some again in 2014 due to lower prices and current dry conditions.

 

Advertisements

Leave a comment

Filed under Economics, Grain

Comments are closed.