Urner Barry Releases October Soy & Wheat Report
In the latest WASDE report, the USDA stated the outlook for 2022/23 wheat for October is lower supplies, domestic use, exports, and stocks. This is due to reductions in both harvested area and yield, which lowered production by 133 million bushels to 1,650 million bushels, only minimally higher than last year. The season-average farm price is estimated at $9.20/bushel (bu), a $0.20 increase from last month.
Globally, the 2022/23 wheat outlook calls for reduced supplies, consumption, trade and ending stocks this month. Supplies were decreased by 1.9 million tons to...
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