New Crop Wheat Analysis Based on March Data – 04/01/2021

USDA forecasts all wheat planted area in 2021 at 47 million acres, up from 44 million acres a year ago. Production will fall short of usage in 2021/2022 assuming …

… A trend yield of 49.5 bushels per harvested acre as projected by USDA.

… New crop US wheat usage at 2.07 billion bushels as forecast by the USDA in the Baseline Report tables.

Refined wheat production estimates will be available when USDA begins producing weekly wheat crop progress reports next week.
WAOB will begin publishing full blown wheat supply/demand reports in May.