World Perspectives
wheat

WASDE Wheat

USDA’s estimate for 2023/24 U.S. wheat is reduced stocks.  All wheat production is projected at 1,659 million bushels, up modestly from last year on increased harvested area.  However, the harvest-to-plant ratio is down from last year with above-average abandonment in Texas, Oklahoma, and Kansas.  The average wheat yield, projected at 44.7 bushels per acre, is 1.8 bushels lower than last year.   Exports are projected at 725 million bushels, 50 million lower than last year.  Ending stocks are projected to be 11 percent lower than last year and the lowest in 16 years.  The projected 2023/24 season-average farm price is $8.00 per bushel, down $0.85 from last year’s record. The global wheat outlo...

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Summary of Futures

May 24 Corn closed at $4.335/bushel, up $0.0675 from yesterday's close.  Jul 24 Wheat closed at $5.6675/bushel, up $0.1375 from yesterday's close.  May 24 Soybeans closed at $11.505/bushel, up $0.1625 from yesterday's close.  Jul 24 Soymeal closed at $343.2/short ton, up $5.8 fro...

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Accountability and a comprehensive approach to export programming

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