USDA reports record small wheat crop

USDA reports record small wheat crop

USDA reports record small wheat crop

The USDA says the 2021 U.S. oat crop was the smallest on record at 39.836 million bushels, 39% less than in 2020. That’s due to a decreased planting across the oat growing region, either due to weather or producers switching to more profitable crops.

Oat futures prices have moved sharply higher recently, sparked by the smaller crop and increased global demand, which could spark an increased in planted area next year.

The average yield is pegged at 61.3 bushels per acre, compared to 65 a year ago, with harvested area falling to 650,000 acres, implying abandonment of almost 2 million acres, in-line with 2020 and 2019 rates.