U.S. Winter-Wheat Acres Set to Drop to Lowest in 110 Years
- Bloomberg survey pegs plantings at 31.118 million acres
- ‘The low wheat prices have given way to other options’
Hard red winter wheat is harvested in Plainville, Kansas.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
America’s bread basket looks like it’s going gluten free: Dogged by lower prices and tepid demand, U.S. wheat farmers are poised to plant the fewest acres of winter varieties in 110 years.
That’s according to a Bloomberg survey. Analysts are predicting another year of declines for acreage as U.S. producers face stiff competition from global rivals gathering bumper crops. World supplies are so plentiful that futures for hard red winter wheat are down about 15% in 2019, one of the worst performances for commodities this year. In some parts of the southern U.S. Plains, wheat is now cheaper than corn, making the yellow grain a better bet.