AgResource Analysis of August USDA Reports
The world wheat market outlook is equally bullish as there is concern over the availability of exportable milling supplies. The USDA surprised the marketplace but lowering Russian production 12.5 MMTs to 72.5 MMTs. Russia’ 2021 harvest is projected 13 MMTs (15%) below last year. Canadian production was cut 7.5 MMTs to 24 MMTS, which reflects…