This paper discusses that the impact and significance of wind speed forecasting on the stable operation of power systems,economic dispatch,operation efficiency and wind power capacity for participating in market competition under the current electricity market environment. A new model is proposed to estimate the wind speed in wind farm based on the meteorological factors with BP neural network,the model considers the characteristics of similar day at the same time. With the help of this model,the forecast on the daily average wind speed,maximum wind speed and its direction has been carried out in a wind farm in Xinjiang Autonomous Region,20 days has been taken for the forecast,the average error of forecasting is 8.07%,10.09%,9.05% respectively. The practicality,reliability and effectiveness of the method are proved by the forecasting results.