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Monthly supply & demand balance sheets · September 2026
WASDE is USDA's monthly balance sheet for every major crop - how much was grown, how much is getting used, and what's left over at the end of the year. Carryout is the number the trade prices off, and the revision from last month usually matters more than the level itself.
USDA's September 2026 WASDE projects 2026/27 wheat carryout at 0.72 billion bushels, unchanged from last month and below the prior year. Production is pegged at 1,531 million bushels.
| Item | 2024/25 | 2025/26 Est. | 2026/27 Proj.Aug | 2026/27 Proj.Sep |
|---|---|---|---|---|
| Area Planted(Million Acres) | 46.3 | 45.3 | 42.7 | 42.7 |
| Area Harvested(Million Acres) | 38.6 | 37.2 | 32.1 | 32.1 |
| Yield per Harvested Acre(Bushels) | 51.2 | 53.3 | 47.8 | 47.8 |
| Beginning Stocks(Million Bushels) | 696 | 855 | 920 | 920 |
| Production(Million Bushels) | 1,979 | 1,985 | 1,531 | 1,531 |
| Imports(Million Bushels) | 150 | 125 | 140 | 140 |
| Supply, Total(Million Bushels) | 2,825 | 2,964 | 2,591 | 2,591 |
| Food(Million Bushels) | 969 | 959 | 960 | 960 |
| Seed(Million Bushels) | 61 | 58 | 59 | 59 |
| Feed and Residual(Million Bushels) | 111 | 119 | 80 | 80 |
| Domestic, Total(Million Bushels) | 1,141 | 1,136 | 1,099 | 1,099 |
| Exports(Million Bushels) | 829 | 908 | 775 | 775 |
| Use, Total(Million Bushels) | 1,970 | 2,044 | 1,874 | 1,874 |
| Ending Stocks(Million Bushels) | 855 | 920 | 717 | 717 |
| Avg. Farm Price ($/bu)($/bu) | 5.52 | 5.06 | 6.20 | 6.40 |
| Stocks-to-use | 43.4% | 45.0% | 38.3% | 38.3% |
Source: USDA Office of the Chief Economist - WASDE. Updated monthly. ▲▼ marks the change vs the prior report.
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