2012/13 ending wheat stocks down with increased feed use

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Domestic use of wheat for 2012/13 is projected at 1,407 million bushels, down from June, but 224 million bushels higher than 2011/12. Food use for 2011/12 is estimated at 945 million bushels, unchanged from June, but up 4 million bushels from 2011/12. Seed use is down 3 million bushels from June. Feed and residual use is projected at 388 million bushels, up 28 million bushels from June based on lower than expected ending socks. As projected, feed and residual use would be up 222 million bushels from 2011/12.

Projected exports for 2012/13, at 1,009 million bushels, are down slightly from June. Total wheat exports for 2012/13 are 39 million bushels less than in 2011/12. 7 Wheat Outlook/WHS-13g/July 15, 2013 Economic Research Service, USDA The largest class changes for exports this month are as follows: HRS, up 15 million bushels; SRW, up 5 million bushels; and HRW, down 22 million bushels.

Projected total U.S. ending stocks for 2012/13, at 718 million bushels, are down from June with the increase feed and residual use. The 2012/13 ending stocks are down 25 million bushels from 2011/12. All-wheat ending stocks are projected down 3 percent from 2011/12. HRS and HRW ending stocks are up from 2011/12 by 9 percent and 8 percent, respectively.

SRW, durum, and white ending stocks are down from 2011/12 by 33 percent, 8 percent, and 2 percent, respectively.

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