U.S. wheat farms have seen double-digit losses since 2002 with smaller farms taking the largest hit.
The latest data from USDA’s Economic Research Service shows in the last 20 years, the number of wheat farms fell by 40 percent. The agency attributes that to wheat becoming a rotational crop as farmers mix it in with more profitable corn or soybeans. Corn and soybean seed varieties are more developed to adapt to growing conditions.
The report also notes wheat production has not topped 2 billion bushels since the 2016-2017 growing season.
