IDAHO WHEAT COMMISSION

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Quiet WASDE Includes Falling World Wheat Stocks

USDA released its December World Agricultural Supply and Demand Estimates (WASDE) report Dec. 9, 2022, that included no substantial changes for global and domestic wheat markets. Given the overall volatility in 2022, a somewhat calming report was probably a blessing in disguise for wheat buyers who should, however, keep an eye on declining global stocks and exportable supplies.Each month, U.S. Wheat Associates (USW) updates a graphic summary the WASDE report that includes global wheat market factors, major country and regional export history, and U.S. wheat supply and demand summaries by class. Readers can review the report online here. Some highlights from the December report follow.