Wheat Outlook

  • February 23, 2024 – The “Grains and Oilseeds Outlook” at the Outlook Forum showed a decline in total planted area for corn, soybeans, and wheat. Corn and soybean acres are projected to increase slightly in 2024, up 300,000 acres; wheat acres are projected to be down 2.6 million.
  • February 8, 2023 – U.S. wheat ending stocks were up 10 million bushels in the February WASDE on lower food use. In the world wheat situation, an increase in use was greater than the increase in supply resulting in a small decrease in ending stocks.
  • February 2, 2024 – U.S. winter wheat condition ratings at the end of November were much better compared to the year before. In updated reports from select states, they have generally improved even more since then. All wheat export sales on are target to reach USDA’s marketing year estimate.
  • January 26, 2024 – The drought monitor for the Southern Plains Climate Hub shows the area under drought and the drought severity index continuing to fall. Texas updated its condition ratings for winter wheat this week. Numbers are much better than a year ago and better than average.

 

Mark Welch
Texas A&M AgriLife Extension Economist

600 John Kimbrough Blvd
TAMU 2124
College Station, Texas 77843
Tel. (979)845-8011
Fax. (979)845-4906
JMWelch(at)tamu.edu

The opinions and recommendations expressed are solely those of the author and are intended for educational purposes only as part of the Texas A&M AgriLife Extension Service.  Texas A&M AgriLife Extension Service assumes no liability for the use of this newsletter.  Educational programs of the Texas A&M AgriLife Extension Service are open to all people without regard to race, color, sex, disability, religion, age, or national origin.  The Texas A&M University System, U.S. Department of Agriculture, and the County Commissioners Courts of Texas Cooperating

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