A crop report from Statistics Canada might give some clues for the USDA’s next spring wheat production estimate.
The report from Ottawa has Canada’s spring wheat crop at 15.321 million tons or just over 562 million bushels, a drop of more than 40% from 2020, following widespread drought in the western Canada, which also impacted U.S. spring wheat in the northern and northwestern Plains.
The USDA’s most recent guess for spring wheat was ahead of harvest in July at 344.575 million bushels, 41% lower than a year ago, and that would fall further if the USDA lowers its harvested acreage estimate due higher than normal rates of abandonment caused by that drought damage.
