Transcription of February 8, 2019 - USDA
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February 8, 2019 - USDA
World Agricultural Supply ISSN: 1554-9089. and Demand Estimates Office of the Agricultural Marketing Service Economic Research Service Chief Economist Farm Service Agency Foreign Agricultural Service WASDE - 574 Approved by the World Agricultural Outlook Board February 8, 2018 . WHEAT: Projected 2017/18 ending stocks are raised this month by 20 million bushels as higher food use is more than offset by lower exports, while export forecasts for several major competitors are increased. Estimated food use is increased by 5 million bushels to 955 million, based on the NASS Flour Milling Products report, which indicated higher-than-expected use in the first half of 2017/18. Additionally, implied flour extraction rates were lower in the second quarter, as compared to last year, and a continuation of this trend is expected to support increased wheat for food usage into the second half of 2017/18. No other supply or use categories are changed this month. Based on NASS. prices reported to date and price expectations for the rest of the marketing year, the projected season-average farm price (SAFP) remains unchanged at the midpoint of $ per bushel.
WASDE-585-2 Sorghum production for 2018/19 is estimated slightly higher at 365 million bushels, as an increase in yield to 72.1 bushels per acre more than offsets a decline in harvested area.
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