Wheat Balance Sheet

All wheat production for 2022/23 is projected at 1,729 million bushels, up 83 million from last year, as higher yields more than offset a slight decrease in harvested area.

Wheat Balance Sheet

The outlook for 2022/23 U.S. wheat this month is for increased supplies, unchanged domestic use and exports, and higher stocks.  Supplies are raised on higher production with all wheat production projected at 1,737 million bushels, up 8 million from last month.  NASS raised winter wheat production to 1,182 million bushels as increases for Soft Red Winter and White Winter more than offset a reduction for Hard Red Winter.  

The all wheat yield is 46.9 bushels per acre, up 0.3 bushels from last month.  Projected 2022/23 ending stocks are raised 8 million bushels to 627 million, still down 4 percent from 2021/22.  

The projected 2022/23 season-average farm price is unchanged at $10.75 per bushel, compared to $7.70 for 2021/22.