WHEAT
Global production in 2012/13 is cut 6.7 million tons, mostly in China, Russia, and Kazakhstan.
USDA cut its forecast of the wheat crop in Russia by 4 million tonnes due to poor yields, in Kazakhstan by 2 million tonnes because of hot and dry weather in June, and in China by 2 million tonnes due to lower yields.
Global trade is down slightly. The U.S. export forecast is raised this month because of reduced competition from the Black Sea region.
Global trade in 2011/12 is raised to a new record reflecting strong demand for wheat used in animal feeds in lieu of high-priced corn.
The seasonaverage U.S. farm price is raised 60 cents to $6.20-7.40 per bushel.

CORN
Global production in 2012/13 is cut 44.7 million tons, due to USA.
The worst Midwest drought in a quarter century is doing more damage to U.S. crops than widely believed, already shrinking corn yields to the lowest in nearly a decade, USDA said on Wednesday. The U.S. Department of Agriculture said the corn crop will average just 146 bushels an acre, down 20 bushels from its June estimate and a much more dramatic drop than analysts had projected. USDA cut its corn harvest projection to 12.97 billion bushels for 2012/13 - still the third largest on record. The yield would be the lowest since 2003, although still far higher than the 85 bushels an acre following the drought of 1988.
Global corn trade for 2012/13 plunged this month because of drastically tighter exportable supplies in the United States outweighing record exportable supplies in South America. U.S. corn exports are slashed and the season-average farm price is projected sharply higher. U.S. exports are also lowered for 2011/12.
The USDA cut its forecast for global corn stocks by 14 percent, although inventories will still be the highest in three years.

SOYBEAN
Global 2012/13 soybean production is reduced mostly due to the smaller U.S. crop, which is impacted by excessive heat and dry conditions across much of the growing area.
Global trade is down as a reduction in U.S. exports more than offsets stronger exports by Argentina and Brazil.
Global import demand for soybean meal and oil is virtually unchanged.
The U.S. season average farm price is forecast at a record
 

anyfoodanyfeed.com