U.S. wheat production in Friday’s USDA crop production report shows larger supplies on lower domestic use, unchanged exports and increased beginning stocks. U.S wheat supplies are estimated to be up 17 million bushels from last month’s estimate at 942 million bushels. USDA lowered wheat production by 53 million bushels to 1.82 billion bushels. Spring wheat production is projected at 550 million bushels on lower yields. Durum is production is higher at 56 million bushels on larger acreage. The season average wheat price was left unchanged at $4.60 per bushel.
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