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Wheat News - USDA Cuts U.S. Wheat Supply, Production and Ending Stocks on July21 Report
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USDA Cuts U.S. Wheat Supply, Production & Ending Stocks on July'21 Report

USDA cut U.S. wheat supply in July 2021, lowering domestic usage and export, and lowering ending stocks for 2021/21, which might support an increase in the CBOT price in the near future. In July'21 report, U.S. wheat output for 2021/22 is estimated to be 47.52 MMT, down from 51.66 MMT in June ‘21 report. Total supplies are expected to be 74.43 MMT, down from 78.24 MMT in the June report. The country's ending stockpiles have decreased to 18.09 MMT from 20.95 MMT in the previous report.