WASDE: U.S. Wheat Supplies Lowered 6 Million Bushels

January 12, 2016 11:07 AM
WASDE: U.S. Wheat Supplies Lowered 6 Million Bushels

WHEAT:  Feed and residual use for 2015/16 is lowered 30 million bushels reflecting disappearance for June-November as indicated by the December 1 stocks released in the Grain Stocks report.  Seed use is lowered 6 million bushels on the winter wheat planted area reported today in the Winter Wheat Seedings report.  U.S. supplies for 2015/16 are lowered 6 million bushels on reduced imports and slightly lower beginning stocks.  Projected 2015/16 ending stocks are raised 30 million bushels.  The 2015/16 season average farm price range is narrowed 10 cents on both the high and low ends to $4.90 to $5.10 per bushel. 

Global wheat supplies for 2015/16 are raised 1.2 million tons on both increased beginning stocks and production.  World wheat production remains record high and is raised 0.5 million tons led by 0.5-million-ton increases for both Russia and Pakistan and a 0.3-million-ton increase for the EU.  Partly offsetting is a 0.7-million-ton reduction for Uruguay and a 0.4-million-ton reduction for Brazil; both reductions are on updated government statistics and reflect crop damage from excessive rain.  World wheat trade for 2015/16 is down fractionally with several, mostly offsetting, changes.  Global use is reduced, mostly in the United States.  With supplies increasing and use reduced, ending stocks are raised 2.2 million tons to a record 232.0 million tons.  This total is 9 percent larger than the previous stocks record set last year. 


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