The USDA has lowered its 2024 all wheat planted area estimate, with the entire decline due to fewer winter wheat acres.
In its acreage report Thursday, the USDA pegged the 2024 national all wheat area at 47.24 million acres, down from its March estimate of 47.49 million and 5% below the previous year. The all wheat number also fell short of the average pre-report trade guess of 47.65 million acres.
At 33.805 million acres, winter wheat area for harvest in 2024 was reduced by about 1% or 330,000 acres from the government’s previous estimate of 34.135 million and is now 8% below a year earlier. On the other hand, the USDA raised its durum acreage estimate to 2.17 million acres from March intentions of 2.03 million, while spring wheat area was left unchanged from intentions of 11.3 million.
With the increase, estimated 2024 durum area is now a major 29% on the year and the highest since 2017, with spring wheat area up a much more modest 1%.
The durum estimated topped the average trade guess of just under 2 million, while spring wheat was largely in line with expectations. Going into the report, the average trade guess had winter wheat area at about 34.2 million acres. Wheat futures were trading between 8 and 13 cents/bu lower after the report’s release.
In the primary spring wheat and durum state of North Dakota, spring wheat area is estimated at 5.6 million acres, up 300,000 from March intentions and 50,000 above the year-earlier level. Meanwhile, durum acres in the state are pegged at 1.2 million, compared to intentions of 1.1 million and 905,000 in 2023.
Click here to see more...