US wheat production increased by 8 million bushels to 1.929 billion bushels, as reported on July 25, impacting market prices negatively. Chicago SRW wheat is trading down by 6 to 7 cents, while KC HRW contracts have slipped by 7 to 8 cents, and MPLS spring wheat is down by 10 to 11 cents.
Key data indicates that winter wheat production decreased by 37 million bushels to 1.345 billion bushels, while spring wheat production rose to 503.6 million bushels. Export estimates increased by 25 million bushels to 850 million bushels, reducing new crop stocks estimates to 890 million bushels.
