USDA Wheat Supply-Demand Outlook - April 2018



                          U.S. Wheat Supply and Use  1/
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                               2015/16  2016/17 Est. 2017/18 Proj. 2017/18 Proj.
Item                                                           Mar           Apr
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                                                 Million Acres
Area Planted                      55.0          50.1          46.0          46.0
Area Harvested                    47.3          43.9          37.6          37.6
                                                  Bushels
Yield per Harvested Acre          43.6          52.7          46.3          46.3
                                                Million Bushels
Beginning Stocks                   752           976          1181          1181
Production                        2062          2309          1741          1741
Imports                            113           118           155           155
  Supply, Total                   2927          3402          3076          3076
Food                               957           949           955           955
Seed                                67            61            62            62
Feed and Residual                  149           156           100            70
  Domestic, Total                 1174          1167          1117          1087
Exports                            778          1055           925           925
  Use, Total                      1951          2222          2042          2012
Ending Stocks                      976          1181          1034          1064
Avg.FarmPrice ($/bu)  2/          4.89          3.89     4.60-4.70     4.60-4.70
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                      U.S. Wheat by Class: Supply and Use
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Year begining            Hard Red Hard Red Soft Red
  June 1                   Winter   Spring   Winter    White    Durum    Total
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                                                Million Bushels
2016/17 (Est.)
Beginning Stocks              446      272      157       74       28      976
Production                   1082      491      345      286      104     2309
  Supply, Total 3/           1533      805      535      368      162     3402
  Domestic Use                489      249      228       99      101     1167
Exports                       455      321       92      163       24     1055
  Use, Total                  943      570      320      263      126     2222
Ending Stocks, Total          589      235      215      105       36     1181
2017/18 (Proj.)
Beginning Stocks              589      235      215      105       36     1181
Production                    750      385      292      258       55     1741
  Supply, Total 3/           1347      694      524      370      141     3076
  Domestic Use                432      269      209       94       83     1087
Exports                       370      235       90      210       20      925
  Use, Total                  802      504      299      304      103     2012
Ending Stocks, Total
                     Apr      545      190      225       66       38     1064
                     Mar      510      185      228       76       35     1034
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