In the June USDA supply and demand report, there was minimal change to wheat production numbers. Midwest Marketing Solutions senior market analyst Brian Hoops calls this a sigh of relief. “The trade really feared seeing a larger production number than 1.198 million acres.” Hoops goes on to say that right now, the focus is on wheat harvest. “It’s very hot and dry in the Winter Wheat Belt, so I think we’re going to see a rapid harvest pace. That could allow farmers to plant more soybeans behind the crop, but only if the area receives some rain,” says Hoops. “The Spring Wheat Belt is off to a tremendous start. This year is much cooler and wetter compared to one year ago at this time.”
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