AgResource Analysis of the USDA’s September Report
However, it is critical that Russian and Ukrainian wheat continues to find regional importers. USDA in its Sept report lowered non-Black Sea exporter stocks/use to a record low 12.2%, vs. 12.4% in August, and vs. 14.4% in 2021/22 amid larger projected feed use in Europe. EU wheat ending stocks are now pegged at just 9.5…