Winter Wheat Production Forecast Lowered Again
Another reduction in this year's forecasted winter wheat production.
On Thursday, USDA reported their June forecast for production of the winter wheat crop is down 2% from the previous month. Also reduced, forecasted crop yield by 0.8% bushels from May.
If realized, harvested acre forecast would be record low.
Among the wheat variety categories, only white winter production is expected to rise from the prior month. The lower winter wheat production forecast translates into lower domestic supplies for this marketing year and in turn a reduction in ending stocks. However, expectations of futures and cash prices for the 2026-27 season led USDA to lower its season-ending average price forecast by $0.50, now at $6 a bushel.
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