USDA reports this year’s U.S. wheat crop is on track to be the smallest in decades, tightening the nation’s wheat supply outlook heading into harvest season. According to USDA’s Outlook Board, no changes were made to export or usage forecasts. Still, the smaller crop trimmed projected ending stocks by six million bushels this month, bringing the total to 717 million bushels, down 203 million bushels from last year. For growers navigating a tighter wheat market, tools like ProAg’s MPCI Individual Plans can offer added certainty when yields fall short of expectations.

Global wheat supplies are also under pressure. Extreme heat during Europe’s grain-filling stage has cut the EU’s wheat production forecast by 1.8 million tons, bringing it down about 11 million tons from last year, while renewed attacks on Russian ports are slowing Black Sea exports. With both domestic and global wheat stocks tightening, growers and ranchers will want to keep an eye on how these shifts could shape wheat prices and export demand heading into fall.

Read the full report from RFD-TV.