HRW Wheat (KW)

U.S. Supply & Disappearance

Sources: USDA (ERS WASDE) *Latest market year projected, current market year estimated.
Planted & Harvested (million acres), Yield (bushels / acre), Supply & Disappearance (million bushels)
Market YearArea PlantedArea HarvestedYield (bu/acre)Beginning StocksProductionImportsTotal SupplyFood UseSeed UseFeed & Residual UseExportsTotal UseEnding Stocks
2019/20*45.638.451.61,0721,9801353,187960681709752,1731,014
2018/19*47.839.647.61,0991,8841353,11895560969362,0461,072
2017/1846.037.546.31,1811,7401573,07896463509011,9791,099
2016/1750.143.952.79762,3091183,402949611611,0512,2221,181
2015/1655.047.343.67522,0621132,927957671497781,952976
2014/1556.846.443.75902,0261512,768958791138642,015752
2013/1456.245.347.17182,1351723,025955762281,1762,435590
2012/1355.348.846.27432,2521243,119951733651,0122,401718
2011/1254.345.743.68621,9991122,974941761641,0502,231743
2010/1152.646.946.19762,207973,279926711321,2892,417862
2009/1059.049.844.36572,2181192,993919701508792,018976
2008/0963.656.044.83062,4991272,932927782551,0152,275657
2007/0860.551.040.24562,0511132,62094888161,2632,314306
2006/0757.346.838.65711,8081222,501938821179082,045456
2005/0657.250.142.05402,103812,725917771571,0032,154571
2004/0559.650.043.25462,157712,774910781811,0662,234540
2003/0462.153.144.24912,344632,899912802031,1582,352546
2002/0360.345.835.07771,606772,460919841168501,969491
2001/0259.448.540.28761,9471082,931926831829622,154777
2000/0162.553.142.09502,228903,268950793001,0622,392876
1999/000.00.00.09462,296953,336929922791,0862,386950
1998/990.00.00.07222,5471033,373910803911,0462,427946
1997/980.00.00.04442,481953,020914922511,0402,298722
1996/970.00.00.03762,277922,7468911023081,0022,302444
1995/960.00.00.05072,183682,7578831031541,2412,381376
1994/950.00.00.05682,321922,981853893451,1882,475507
1993/940.00.00.05312,3961093,036872962721,2282,467568
1992/930.00.00.04752,467713,012835991941,3542,482531
1991/920.00.00.08681,980412,890789982461,2822,415475
1990/910.00.00.05362,730363,303790924841,0692,435868
1989/900.00.00.07022,037232,7627491051351,2322,224536
1988/890.00.00.01,2611,812233,0967251031511,4152,394702
1987/880.00.00.01,8212,108163,945720852911,5882,6841,261
1986/870.00.00.01,9052,091214,017712844019992,1961,821
1985/860.00.00.01,4262,424163,866674932859091,9611,905
1984/850.00.00.01,3992,595104,004653984061,4212,5781,426
1983/840.00.00.01,5152,42033,9386441003701,4262,5401,399
1982/830.00.00.01,1592,76563,932616971931,5092,4171,515
1981/820.00.00.09892,78533,7776021111351,7702,6181,159
1980/810.00.00.09022,38133,286610113601,5142,296989
1979/800.00.00.09242,13423,060596101861,3752,158902
1978/790.00.00.01,1781,77522,955591871591,1942,031924
1977/780.00.00.01,1132,04613,160587801911,1241,9831,178
1976/770.00.00.06662,14832,81758892749501,7031,113
1975/760.00.00.04352,12722,56458899381,1731,898666

Annual Planted & Harvested:


Annual Supply:





Annual Disappearance:








Stocks to Use:


Quarterly Stocks by Position:










USDA FAS Export Sales Data:

All Data For The current Marketing Year




20yrsSpot PriceWgt Fut PriceBasisVolatility (ANN)Forward Curve
Maximum1196.251228.2345.0045.00%31.31%
Top 1/4tile596.50652.530.0028.99%11.82%
Median445.31495.70-20.6323.79%6.05%
Bot 1/4tile350.81362.88-40.8120.53%1.48%
Minimum232.63271.05-128.6313.17%-12.71%
10yrsSpot PriceWgt Fut PriceBasisVolatility (ANN)Forward Curve
Maximum900.88986.8045.0038.49%31.31%
Top 1/4tile657.94725.58-2.5329.94%14.80%
Median516.00565.43-34.2526.18%7.50%
Bot 1/4tile436.31490.88-58.0920.98%3.70%
Minimum323.00407.93-128.6316.28%-6.15%
5yrsSpot PriceWgt Fut PriceBasisVolatility (ANN)Forward Curve
Maximum744.00725.5845.0029.57%31.31%
Top 1/4tile528.25543.007.5026.07%13.69%
Median454.00495.47-10.0023.29%5.93%
Bot 1/4tile405.25459.05-40.0020.54%0.46%
Minimum323.00407.93-128.6316.28%-6.15%
Source: ABSR Research, LLC, Commodity Systems Inc.

Source: ABSR Research, LLC, Commodity Systems Inc.

Source: ABSR Research, LLC, Commodity Systems Inc.

Source: ABSR Research, LLC, Commodity Systems Inc., USDA: NASS

Source: ABSR Research, LLC, Commodity Systems Inc.

Source: ABSR Research, LLC, Commodity Systems Inc.

HRW Wheat Specifications:
20yrsWgt Fut PriceVolatility (ANN)Forward Curve
Maximum1228.2344.91%11.06%
Top 1/4tile652.5329.21%5.83%
Median477.7323.36%3.76%
Bot 1/4tile338.6619.94%1.57%
Minimum271.0513.17%-11.71%
10yrsWgt Fut PriceVolatility (ANN)Forward Curve
Maximum1041.2344.91%11.06%
Top 1/4tile754.5032.82%5.54%
Median623.5228.65%3.88%
Bot 1/4tile500.1821.88%2.32%
Minimum410.5816.38%-2.72%
5yrsWgt Fut PriceVolatility (ANN)Forward Curve
Maximum829.7529.44%11.06%
Top 1/4tile647.0224.46%7.15%
Median514.9521.88%4.91%
Bot 1/4tile463.0719.56%1.76%
Minimum410.5816.38%-2.72%
Source: CME Group
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