All wheat production for 2011-12 is forecast at 2.058 billion bushels, 15 million higher than last month. The winter wheat production forecast was raised 26 million bushels.

U.S. wheat ending stocks are projected 15 million bushels lower at 687 million bushels, but remain above the 10-year average.

World wheat production is projected 5.2 million tons lower for 2011-12, at 664.3 million tons. This would be the third highest on record and up 16.1 million from 2010-11. Global ending stocks for 2011-12 are projected 3 million tons higher.