USDA is forecasting spring wheat production at 345 million bushels. That’s down 41 percent from last year and would be the smallest spring wheat crop in more than 30 years. At this point, USDA is estimating an abandonment rate of just three percent in spring wheat. Due to the severe drought, most analysts expect to see a much higher level of abandonment. By comparison, 20 percent of the spring wheat acres were left unharvested during the drought of 1988.
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