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1.66 billion bushels
- U.S. wheat production for the 2023/24 marketing year is forecast at 1.66 billion bushels, up 1 percent from the previous year, but down 7 percent from the recent 5-year average of 1.788 billion bushels.
www.ers.usda.gov/webdocs/outlooks/106544/whs-23e.pdf?v=128
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Apr 23, 2024 · U.S. wheat production for the 2023/24 marketing year is forecast at 1.66 billion bushels, up 1 percent from the previous year, but down 7 percent from the recent 5-year average of 1.788 billion bushels.
Jun 13, 2023 · The June 2023 Wheat Outlook explains USDA’s changes in the official projections for U.S. and world wheat supply and use in the 2022/23 and 2023/24 marketing years that were released in the June 9 World Agricultural Supply and Demand Estimates report.
Soft Red Winter (SRW) production for 2023/24 is estimated at 422 million bushels, up 20 million from the June estimate and 25 percent above the previous year on higher area and yield. SRW yield is estimated at 71.0 bushels per acre, up from 70.2 last year and the recent 5-year average of 67.1.
U.S. wheat imports for 2024/25 are forecast to be down 20 million bushels to 120 million. With abundant domestic supplies, wheat imports are expected to revert to a more typical level after being elevated in 2023/24 as a result of drought in major HRW areas.
Official U.S. all-wheat imports for June 2023–January 2024, calculated with data from the U.S. Department of Commerce, Bureau of the Census (Census Bureau), are estimated at 96 million bushels, up 17 percent from the same months in 2022/23.
Note: For wheat and corn, global market share is calculated using the trade year export data, which is July/June for wheat, October-September for corn. For soybeans, local marketing year exports are utilized, except for Argentina and Brazil which are adjusted to an October-September basis.
Official U.S. wheat exports for June–October 2023, calculated with data from the Census Bureau, are estimated at 274 million bushels, 27 percent below the 375 million bushels during June–October 2022.
