Wheat carryover smallest since 1946-47

by Ron Sterk
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WASHINGTON — Carryover of U.S. wheat on June 1, 2008, was projected at 272 million bus, down 20 million bus, or 7%, from January, and down 184 million bus, or 40%, from a year earlier and the smallest since 1946-47, the U.S. Department of Agriculture said in its Feb. 8 World Agricultural Supply and Demand Estimates. The projection was slightly below trade expectations of 274 million bus. The reduction was the result of a 25-million-bu increase in exports for 2007-08, projected at 1,200 million bus compared with 1,175 million bus in January, only partially offset by a 5-million-bu decrease in feed and residual use, projected at 110 million bus. Carryover of hard red spring wheat was projected at 73 million bus, down 15 million bus from January, and soft red winter at 32 million bus, down 5 million bus. Unchanged were hard red winter carryover at 121 million bus, white wheat at 27 million bus and durum at 19 million bus.

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