WASHINGTON, D.C. (RFD News) — U.S. wheat supplies are tightening after USDA lowered production expectations and projected the smallest crop in more than five decades.
The July World Agricultural Supply and Demand Estimates (WASDE) report forecasts 2026/27 U.S. wheat production at 1.536 billion bushels, down 7 million from June and the lowest since 1970/71. Total supplies were reduced by 22 million bushels because of lower beginning stocks and production.
Winter wheat saw the largest adjustment. USDA lowered production by 39 million bushels to 990 million, mainly due to smaller Hard Red Winter and Soft Red Winter crops. Other spring wheat is forecast at 475 million bushels, while Durum production is projected at 71 million.
Domestic use and exports were unchanged, leaving ending stocks at 722 million bushels, down 22 percent from last year. USDA kept the projected season-average farm price at $6.00 per bushel, compared with $5.06 last year.
Global wheat stocks also moved lower as consumption increased and supplies tightened.
