U.S. wheat growers will plant 1.4 percent more acres with the grain this year than they did in 2012, the fourth straight increase, according to the government.
About 56.53 million acres (22.9 million hectares) were planted with wheat, up from 56.44 million forecast in March and 55.74 million in 2012, the U.S. Department of Agriculture said today in a report based on a survey of farmers. Analysts surveyed by Bloomberg news expected 55.83 million acres to be seeded with wheat.
Growers from Minnesota to Washington planted 12.295 million acres with spring wheat, used to make bread, up from 12.289 million in 2012, the USDA said. Analysts expected 12.087 million. Durum wheat, used in pasta, may be planted on 1.538 million acres, down from 2.123 million last year, according to the government. Analysts expected 1.703 million.
Wheat futures on the Chicago Board of Trade dropped 13 percent this year through yesterday. In 2012, the grain climbed 19 percent, the most among the 24 commodities tracked by the Standard & Poor’s GSCI Spot Index. Spring-wheat futures on the Minneapolis Grain Exchange plunged 9.5 percent this year.