Urner Barry Releases August Soy & Wheat Report
In the latest WASDE report, the USDA stated the outlook for 2022/23 wheat for August is increased supplies, domestic use, exports, and reduced stocks. Supplies were raised on higher production, with the all wheat forecast at 1,783 million bushels, up 2 million from July. Also, the all wheat yield is projected at 47.5 bushels per acre, a slight increase from last month. The season-average farm price is currently estimated at $9.25/bu, surpassing the 2012/13 record of $7.77/bu.
Globally, the 2022/23 wheat outlook calls for higher supplies, greater consumption, and increased trade. Supplies were increased by...
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