World Perspectives
wheat

WASDE Wheat

Summary of USDA’s December 2019 Wheat estimates: U.S. wheat exports are raised 25 million bushels to 975 million.  Hard Red Winter and Durum exports are each raised 10 million bushels, and HRS is raised 5 million.  With reduced supplies and higher use, 2019/20 ending stocks are cut 40 million bushels to 974 million, the lowest in 5 years.  Despite the tightening stocks, the season-average farm price is lowered $0.05 per bushel to $4.55 based on NASS prices to date and expectations of cash and futures prices for the remainder of the market year.   The global outlook for wheat this month is for several mostly offsetting production changes, slightly lower global use and trade, and increased ending stocks. ...

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