New Crop Wheat Outlook

The USDA’s first new crop wheat supply/usage balance, scheduled for release next month, could post a small reduction in US wheat carryout stocks in 2020/2021. Our new crop wheat production forecast is based on the March planting survey and a continuation of the current relatively favorable weather pattern. We have assumed the USDA’s benchmark 2020/2021 wheat usage forecasts published in February 2020.

The table displays data in million bushels/acres and yield in bushels per harvested acre. The 2020/2021 projection by Seasonal Trader.