USDA lowered wheat supplies, reduced domestic use and lowered ending stocks in the November Supply and Demand report. USDA reduced wheat supplies 42 million bushels on updated production estimates in North Dakota and Montana, where a significant amount of acreage went unharvested. USDA lowered wheat ending stocks by 30 million bushels to 1.014 billion bushels. The season average farm price is reduced by ten cents per bushel to $4.60.
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