USDA’s outlook for 2025/26 U.S. wheat is for supplies to be up 2 percent from 2024/25 as higher beginning stocks more than offset lower production. The average wheat yield is projected at 51.6 bushels per acre, up 0.4 bushels from last year. Exports are projected lower at 800 million bushels as the United States due to strong competition. Projected 2025/26 ending stocks are 10 percent above last year at 923 million bushels, the highest level in six years. The projected 2025/26 season-average farm price of corn is $5.30 per bushel, down $0.20 from last year. USDA’s global wheat outlook for 2025/26 is for slightly larger stocks. ...