Total seedings of winter, other spring, and durum wheat for the 2017/18 marketing year, were reported in the USDA-National Agricultural Statistics Service Prospective Plantings, and support expectations of historically low allwheat plantings.
U.S. Census data, now available through January 2017, indicates a slow pace of shipments from Canada-in part due to low quality-results in cuts to U.S. imports for most classes of wheat including Hard Red Winter, Hard Red Spring, Durum, and White Wheat.
The U.S. 2016/17 wheat for food use projection is lowered 5 million bushels to 963 million, based on the release of the USDA, National Agricultural Statistic Service (NASS) Flour Milling Products report on November 1 and expectations for the balance of the marketing year.
Excellent growing conditions for much of the United States, especially the Great Plains States of Kansas, Montana, North Dakota, Nebraska, and Oklahoma, contribute to U.S. winter wheat yields that are up nearly 3 bushels per acre from the May forecasts and up 8 bushels per acre above the 2015/16 estimate.
The March USDA, National Agricultural Statistics Service (NASS) Grain Stocks report indicates all wheat stocks on March 1 totaled 1,372 million bushels and provides justification for a 10-million-bushel increase in the 2016/17 carryout.
Global 2015/16 wheat production is revised lower this month, due to reductions for India and Australia, but remains record high. Forecast wheat use is down, as are global ending stocks and global wheat trade. Australian wheat exports are projected down, Argentina's are up, and U.S. export prospects are left unchanged.
Carryout for the 2015/16 marketing year is up 30 million bushels this month to 941 million, based on quarterly stocks data published in the USDA, National Agricultural Statistics Service Grain Stocks report.
Higher projected 2015/16 wheat production for Canada and the European Union (EU) further expands the record-large world wheat supplies. With projected use down slightly, historically high ending stocks are increased further.
Projected U.S. wheat supplies for 2014/15 are raised this month mostly with an increase in forecast hard red winter (HRW) wheat production as well as smaller increases for soft red winter (SRW), hard red spring (HRS), and durum.