Market Outlook

See the latest Wheat Outlook report.

First By-Class 2022/23 U.S. Wheat Balance Sheets Released

In the July 2022 World Agricultural Supply and Demand Estimates report, the first by-class 2022/23 balance sheets were released. U.S. all-wheat exports, projected at 800 million bushels, are down marginally from the previous year. Exports for Hard Red Winter (HRW) are projected down 74 million bushels from the previous year to 245 million as a result of smaller supplies from drought impacting major production regions. All other classes of wheat have larger supplies and exports this year. White wheat, Hard Red Spring, and Durum are all projected to have larger production, recovering from severe drought conditions in the previous year. Soft Red Winter is expected to have a bumper crop, facilitating greater exports.