U.S. winter wheat plantings up nearly 1% year-over-year to 41.02 million acres in 2011; world wheat inventories poised to increase 4% to 207.7 million tonnes, the highest since 2000

LOS ANGELES , January 11, 2012 () – According to an average provided by a poll sixteen analysts compiled by Bloomberg, from September to November 2011, farmers in U.S. sowed approximately 41.02 million acres with winter wheat, a .9% increase in comparison to the previous year, Bloomberg reported on Jan. 11.

This comes at a time when world inventories of wheat are poised to increase 4% to 207.7 million tonnes, the highest amount since 2000.

In early January, the U.S. Department of Agriculture reported that, in Kansas, Oklahoma and Texas, respectively, 53%, 63% and 25% of the winter wheat crop was in either good or excellent condition.

For Kansas and Oklahoma, respectively, only 47% and 56% of the winter wheat crop had been rated as being in either good or excellent condition the previous month.

The percentage of winter wheat in Texas that was rated as being in either good or excellent condition in January was unchanged from the previous month, although a higher percentage of the winter what crop was rated as being or very poor in January.

Winter wheat constitutes 74% of the U.S. crop.

In 2011, the S&P GSCI Agriculture Index, which tracks eight farm commodities, fell by 15% as demand slowed due to weak economic conditions.

In 2010, the S&P GSCI Agriculture Index increased 44% in the wake of a drought that destroyed crops from Australia to Russia.

After excessive rains drowned out fields in the American Midwest, in late 2009, only 37.33 million acres were sown with winter wheat, the smallest amount since fall 1912.

According to the USDA, in 2011, the Russian wheat harvest grew by 35% in comparison to the previous year and the Ukrainian wheat output grew by 31%. The wheat output increased by 9% in Canada, and output in Australia increased by 1.5% to a record high.

In 2011, India also harvested its largest-ever crop of wheat.

The original source of this article is Bloomberg, New York, New York, on Jan. 11, 2011.

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