IDAHO WHEAT COMMISSION

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Wheat Market Uncertainty Lingers into New Crop Projections

The US Department of Agriculture (USDA)'s influential monthly report update will include the first new crop projections of the year. Analysts polled by Agricensus believe the agency will reflect higher US wheat ending stocks but lower global stocks in the new marketing year. The average response of analysts revealed that US ending stocks for the 2023/24 crop year are expected at around 610 million bushels (16.6 million mt), while world stocks are projected at 258 million mt.

Crop Projections