Corn and soybean harvests are moving along rapidly, and winter wheat planting is also underway. All wheat acres are forecast to be up 4%, but this still represents the 2nd lowest acreage figure since records started being kept in 1919. The latest USDA figures show that about 31% of Indiana’s winter wheat has been planted, with most of that in Southern Indiana. Eric Miller, with Pioneer, says wheat planting is just getting underway in East Central Indiana.
“We hope to get the wheat planting underway this upcoming week if soil conditions permit.”
Indiana wheat acreage has been down in recent years. However, Miller says improved prices have more producers giving it another look for 2018-19.
“Intentions seem to be strong for guys who have a large amount of acreage to put in. Some have already started; and, with good fall weather, we should be able to get most of the intended acreage planted.”
Miller said the key will be if the forecast for good, dry weather in early November comes to pass.
Purdue predicts harvest wheat prices to be about $4.40 with net possible profits to range from $160 to $190 per acre.