Afternoon Ag News, July 13, 2021: Latest WASDE report highlights - a podcast by MWC

According to the latest World Agricultural Supply and Demand Estimates Report, the outlook for 2021/22 U.S. wheat this month is for reduced supplies, lower domestic use and exports, and decreased ending stocks. Supplies are lowered on reduced wheat production and beginning stocks. All wheat production is lowered 152 million bushels to 1,746 million. The all wheat yield is 45.8 bushels per acre, down 4.9 bushels from last month. Corn beginning stocks are lowered 25 million bushels, based on greater feed and residual use for 2020/21 as indicated in the June 30 Grain Stocks report. Corn production for 2021/22 is forecast 175 million bushels. The national average corn yield is unchanged at 179.5 bushels per acre. Soybean production is projected at 4.4 billion bushels, unchanged from last month. The soybean yield forecast is unchanged at 50.8 bushels per acre. Soybean supply and use forecasts are unchanged from last month.

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