Market News & Headlines >> USDA Seen Raising Wheat Crop, Ending Stocks
USDA is expected to raise its forecasts for 2016 U.S. wheat production and 2016/17 ending stocks on Friday when it releases its monthly Crop Production and World Supply/Demand reports.
Trade estimates of U.S. all-wheat production average 2.270 billion bushels, 9 million above USDA’s July estimate, in a range from 2.231-2.360 billion bushels, according to a survey of 19 analysts by Reuters News Service. Estimates of winter wheat production average 1.630 billion bushels, 2 million above USDA’s July estimate in a range from 1.589-1.671 billion bushels.
Estimates of “other” spring wheat production average 547 million bushels, 3 million below USDA’s July estimate, in a range from 525-576 million. Trade expectations for durum production average 86 million bushels, 3 million above USDA’s July forecast.
Trade estimates of 2016-17 U.S. wheat ending stocks avg. 1.114 billion bushels in a range from 1.082-1.210 billion bushels compared with USDA's July projection of 1.105 billion.