USDA increased the world ending stocks of wheat for 2016 – 2017

13 Jan, 2017
USDA increased the world ending stocks of wheat for 2016 – 2017
On January 12, 2017 USDA issued its January report about the grain balance worldwide during 2016 – 2017. Wheat supply has gone up by 1,17 mln tons worldwide compared with the December forcast up to 993,18 mln tons thanks to the increase in the starting stocks up to 240,49 mln tons and production up to 752,69 mln tons

Production increase was mainly from Argentina by +1 mln tons up to 15 mln tons and partially from the EU by +0,35 mln tons up to 144,32 mln tons.

The forecast for wheat consumption worldwide remains almost the same – only 0 +0,12 mln tons up to 739,89 mln tons. Consumption in the USA is going down by 1,17 mln tons – lower consumption of fodder wheat.

Wheat import in India goes up by +0,7 mln tons up to 3,7 mln tons, in Brazil by +0,2 mln tons up to 6,7 mln tons and countries in Southeast Asia by +0,3 mln tons up to 22,9 mln tons.

Wheat export worldwide goes up by 1,22 mln tons up to 178,05 mln tons, including to Argentina by +0,6 mln tons up to 8,6 mln tons, Australia by +0,5 mln tons up to 24,5 mln tons, the EU by +0,5 mln tons up to 25,5 mln tons and Ukraine by +0,2 mln tons up to 15,7 mln tons. Export from Canada goes down by 0,5 mln tons down to 21,0 mln tons.

World ending stocks of wheat during 2016 – 2017 increase by 1,15 up to record 253,29 mln tons. Stocks in the USA have been increased by +1,17 mln tons, in Canada by +0,21 mln tons, in Argentina by +0,19 mln tons, in Australia by +0,67 mln tons, in the EU by +0,15 mln tons, in Ukraine by +0,2 mln tons.