Projected ending stocks for 2011/12, at 828 million bushels, are down 9 million bushels from October and down 34 million bushels from 2010/11. Total wheat supplies for 2011/12 are projected down 297 million bushels from 2010/11 because of both smaller carryin stocks and production as compared with 2010/11. Total projected uses are unchanged from October, but down 264 million bushels from 2010/11 as lower exports more than offset higher domestic use.

Total production is estimated at 1,999 million bushels, down 9 million bushels from October and down 208 million bushels from 2010/11.

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