According to the April 9, 2021 USDA WASDE report:
- This month’s supply and demand outlook for 2020/21 U.S. wheat is for lower supplies, reduced domestic use, unchanged exports, and higher ending stocks
- Supplies are lowered with a reduction in projected imports by 10 million bushels to 110 million on a lower than expected import pace with decreases in Durum and Hard Red Spring.
- The 2020/21 global wheat outlook is for slightly smaller supplies, increased consumption, higher exports, and reduced stocks this month. Supplies are lowered 0.5 million tons to 1,076.5 million but 2020/21 production remains at a record 776.5 million.