Potential Turn Around? Declining wheat plantings could have a better year

For years, U.S. wheat growers have reduced plantings, but this year that trend could turn around.

USDA Chief Economist Seth Meyer shares the Department’s predictions.

“In 2022, we were just little under 46 million acres, and, you know, in the expectation that and with solid pricing obviously, we’ll get a little bit of a rebound. So, the first number that we put out for 2023 was 47.5 million acres, so up a little under 2,000,000 acres year over year.”

Meyer says the ongoing war in Ukraine is helping keep wheat prices high, and in turn could make the crop more attractive.

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