U.S. wheat stocks fall after harvest shortfalls
U.S. Sept. 1 supplies of wheat fell to their lowest level since 2007 following the smallest harvest in 19 years, the government said on Thursday.
U.S. farmers produced 1.646 billion bushels of wheat in 2021, down from 1.826 billion a year ago, according to the U.S. Agriculture Department’s small grains summary report. Domestic wheat stocks on Sept. 1 stood at 1.780 billion bushels, USDA said in its quarterly stocks report.
USDA also said that soybean stocks stood at a five-year low of 256 million bushels, bigger than analysts were expecting. Corn stocks were reported at 1.236 billion bushels, the lowest since 2014.
Source: Reuters (Reporting by Mark Weinraub)