For wheat, the supply estimates have been mostly finalized by October with adjustments in January’s final projections for the crop-year. USDA projects the 2018 wheat yield at 47.6 bushels/acre, a 1.3-bushel increase over 2017, on 39.6 million harvested acres. USDA projects total wheat production at 1.88 billion bushels. The larger wheat crop is off-set by a smaller carry-in and reduced imports with supply projected to increase by 45 million bushels from 2017-18 (Table 1).
Read More