Global wheat ending stocks in marketing year 2023-24 are estimated to decline to their lowest level in eight years, according to the US Department of Agriculture’s World Agriculture Supply and Demand Estimates (WASDE) report released on Aug. 11. In its monthly report, USDA lowered its estimate by 900,000 tonnes to 265.6 million, the lowest since 2015-16. The record high for wheat ending stocks was 297.9 million tonnes in 2019-20.