Soft red winter production down 2%, USDA says.

Second year of lower production possible.

South American planting seen as bellwether, speaker says.

A project will take place in six countries over two wheat seasons.

Analysts also see lingering issues with supply chain.

But third largest since record high in 2013.

The perennial grain offers soil health benefits.

Ag commodity inflation can be traced back to lay 2020, report says.

All wheat area up 1% from 2021; corn down 4%; soybeans up 4%.

Company now has 108,000 acres enrolled.