Report triggers grain price surge
In the U.S. Department of Agriculture’s (USDA) first projections for the 2022-2023 crop year, U.S. corn production is expected to drop 4.3% from last year amid a slow start to planting, while winter wheat production in the southern Plains states is at historic lows, Ag Week reported.
For winter wheat, drought in Texas and other southern Plains states is leading to the lowest harvested-to-planted ratio since 2002. Texas will have the largest number of non-harvested acres on record.
In response, July wheat prices on the Chicago Board of Trade (CBOT)...
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