Some potential good news for U.S. wheat growers After five years of wheat supplies exceeding demand. We've hit a year where the opposite is now true on a global level. Speaker1: Yes, that's a recipe for decent prices for wheat. Agriculture Department chief economist Seth Meyer says a year ago, rising corn and soybean prices carried wheat along with them. This year and into 2022. Meyer says wheat may be lending support to corn and beans. Now globally, we’re starting the new marketing year with world supplies six million tons smaller than the year before. The use of wheat worldwide is expected to increase and the result: a possible four percent drawdown in stocks globally by the end of the marketing year, so wheat prices are being pushed upward here. Meanwhile, in the U.S. over this past season, Speaker2: The winter wheat crop turned out to be an OK crop, not a bad crop, versus much of our spring wheat crop really hit hard by that western drought. So you can see some of the spring wheat prices really showing strength relative to the winter wheat, but the wheat story really is a global one, where consumption exceeding production for the first time in several years, and that's what's offered that strength for wheat. Speaker1: And as everybody knows, U.S. wheat growers are seeing that strength. The average price for the 2020 to 21 crop was $5 and five cents a bushel for the 21 to 22 crop. Usda projecting $7.05.