U.S all wheat production is raised nearly 60 million bushels this month to 2.32 billion on rising production for all classes of wheat. This month’s 2.6-percent increase follows the near 9-percent boost in projected all wheat production made in July. Production, while not record-high, is supported by yields that are at or near record levels for several classes of wheat. In aggregate, the all wheat yield is raised this month by 1.3 bushels per acre to 52.6 bushels and is now projected to be 9 bushels higher than the 2015/16 all wheat yield.
Hard Red Winter wheat yields increased by 1 bushel per acre, and Other Spring rose 1.8 bushels per acre to 46.5 bushels. Durum yields showed the largest month-to-month improvement, up 4.3 bushels per acre to 44.1 bushels. The anticipated additional production leads to several balance sheet changes. Import prospects are reduced 5 million bushels while exports are increased by 25 million to 950 million. Feed and residual is raised by 30 million bushels and food use, adjusted across the classes, is raised by 5 million bushels, to 968 million.
Projected 2016/17 record world wheat production is increased further this month despite a sharp cut in European Union (EU) output. Larger wheat production by major exporters puts further pressure on prices and encourages additional demand in Asia and North Africa, raising world wheat trade prospects. An outstanding crop makes Russia
the top wheat exporter. Ending foreign stocks decline slightly, though they are still
projected to be record-high.