PNW Winter Wheat Higher ad Fertilizer & Middle East War
Winter wheat production in the Pacific Northwest is up 23% from last year. Washington’s production rose by 30%, reaching 123 million bushels, Oregon saw a 26% increase to 50.8 million bushels, and Idaho experienced an 11% rise, producing 62.3 million bushels. Additionally, USDA Deputy Secretary Xochitl Torres Small announced $104 million in REAP loans and grants to support over 300 clean energy projects in 34 states. Meanwhile, concerns over nitrogen fertilizer markets have risen due to the ongoing Middle East conflict.
Pacific Northwest winter wheat production is up 23% from last year.
Washington planted 1.8 million acres, unchanged from 2023. Production was up 30% at 123 million bushels, or 70 bushels per acre.
Oregon 740,000 planted acres is unchanged. Production is up 26% at 50.8 million bushels, also 70 bushels per acre.
Idaho 760,000 planted acres is up 10,000 from 2023. Production is up 11% at 62.3 million bushels, 89 bushels per acre.
**Deputy Secretary Xochitl (so-CHEEL) Torres Small says the
USDA is partnering with farmers and small businesses to expand access to clean energy and lower energy bills through the Rural Energy for America Program.
She announced an additional $104 million in REAP loans and grants that will lower their energy costs and help expand their operations.
Those loans and grants will support more than 300 clean energy projects in 34 states.
**Farmdoc says the ag sector is closely watching the fertilizer markets because of the ongoing war in the Middle East.
Following months of tight supplies, global nitrogen values started rising recently.
The Middle East is an important area for fertilizer production in general, but it’s especially important for nitrogen.
StoneX’s Josh Linville says Iran’s attack on Israel didn’t impact shipping lanes but may have forced the market to finally admit supplies are tight.
Source Link : https://www.aginfo.net/report/60869/The-Agribusiness-Update/PNW-Winter-Wheat-Higher-ad-Fertilizer-Middle-East-War
