WHEAT:  The initial outlook for 2021/22 U.S. wheat is for smaller supplies, higher domestic use, lower exports, and reduced stocks.  Supplies are projected down 3 percent from 2020/21 on lower carry-in stocks offsetting higher production and imports.  All wheat production is projected at 1,872 million bushels, up 3 percent from last year on higher harvested acreage and yields.  The all wheat yield is projected at 50.0 bushels per acre, up 0.3 bushels. The projected 2021/22 season-average farm price is $6.50 per bushel, up $1.45 from last year’s revised price on reduced stocks and significantly higher U.S. corn prices.  The initial global wheat outlook for 2021/22 is for larger supplies, higher consumption, inc...

TAGS – Wheat, Australia, China, Europe, North America, South America