Wheat Market Outlook - July 31, 2023

Aug 01, 2023

According to the FAO-AMIS database, global 2023/2024 wheat production will come in at 783.3 million mt, 2.3 million mt smaller than last year’s.

Global domestic utilization of wheat will reach 782.7 million mt, just a fraction below total production.

Global ending stocks will increase fractionally by 920k mt to 313.9 million mt (311.1 million mt last crop year).

FOB wheat prices increased by $18-30/mt following the renunciation of the grain corridor in the Black Sea. Prices have eased again since as traders are trying to anticipate the logistic outfall from the latest events.

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Video: The Corn Looks Good!

Border View Farms is a mid-sized family farm that sits on the Ohio-Michigan border. My name is Nathan. I make and edit all of the videos posted here. I farm with my dad, Mark and uncle, Phil. We also have a part-time employee, Brock. My dad started the farm in 1980. Since then we have grown the operation from just a couple hundred acres to over 3,000. Watch my 500th video for a history of our farm I filmed with my dad.

I started making these videos in the fall of 2019 as a way to help show what I do on a daily basis as a farmer. Agriculture is different from any other industry and I believe the more people that are showing their small piece of agriculture, helps to build our story. We face unique challenges and stressful situations but have some of the most rewarding payoffs in the end. I get to spend everyday doing what I love, raising my kids on the farm, and trying to push our farm to be better every year. I hope that I can address questions or concerns that you might have about farms and agriculture.

I hope you enjoy my content and ask questions as you have them. I do my best to answer anything I can. Thanks for watching!