Sept 12th WASDE Report Shows Wheat Supply and Demand to Remain Unchanged

On September 12, 2019, the USDA released its World Agricultural Supply and Demand Estimates (WASDE) report. According to the report, “the 2019/20 U.S. wheat supply and demand outlook is unchanged this month but there were offsetting by-class changes for wheat exports. The projected season-average farm price is $4.80 per bushel, down $0.20 on NASS monthly prices reported to date and expectations for cash and futures prices for the remainder of the marketing year (MY). For wheat, NASS is projecting production of 53.9 million tons, up from 2018s figure of nearly 51.3 million tons. Globally, however, the wheat outlook is for lower supplies, reduced consumption and exports, and higher ending stocks,” the WASDE said.

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