IDAHO WHEAT COMMISSION

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U.S. Grain Markets Bumpy Amid Global Challenges

The key US Department of Agriculture August Crop Production report brought forecasts of more US winter wheat and less spring wheat, with corn and soybean production forecasts lowered from July but still historically large. Market reactions were muted across the board when domestic crop production and data from the USDA’s World Agricultural Supply and Demand Estimates were received on Aug. 11. After a challenging spring, US weather has turned mostly benign for fall row crops, and the war in Ukraine has contributed to volatility, but the impact has diminished with time.

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