Wheat Farmers Expected To Harvest Just 67% Of Planted Area, Lowest Since 1917, As Dry Weather Bites

Posted by Staff of goGardenNow on

Benzinga.com reports, "As the U.S. economy is grappling with multiple headwinds that have been spearheaded by the impact of the Federal Reserve's aggressive rate hikes, another risk is looming on the horizon: dry weather.

"What Happened: Wheat farmers are expected to harvest just 67% of the planted acres, data released by the U.S. Department of Agriculture (USDA) on Friday revealed.

"The harvest ratio would be at the lowest since 1917, as dry conditions in Colorado, Kansas, Nebraska, Oklahoma and Texas have significantly impacted wheat crop.

"The USDA noted that, while winter wheat production is expected to rise 2% to 1.13 billion bushels this year, the yield is expected to drop to 44.7 bushels per acre."

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