While modest recovery in net returns is seen for wheat, that will not likely discourage further reduction in wheat acreage.
More Quotes from Pat Westhoff:
This 2006 baseline foresees faster growth in ethanol production than in the 2005 baseline. Higher petroleum prices and provisions of the Energy Policy Act of 2005 add to the growth.Pat Westhoff
Declines outweigh government loan deficiency payments (LDP) and counter-cyclical payments (CCP).
Pat Westhoff
If yields return to normal trend in 2006, soybean production is likely to decline. However large beginning stocks could lead to record total supplies.
Pat Westhoff
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