This paper provides USDA’s projections of 2021/22 U.S. supply, demand, and prices for wheat, corn, rice, soybeans, and soybean products. Projections presented in this paper include implications of the January 12 NASS Winter Wheat and Canola Seedings report, which estimated that winter wheat area increased 5 percent from 2020 and up 2 percent from 2019.