IGC raised its forecast for wheat production in Russia by 9 million tonnes

25 Aug, 2017
IGC raised its forecast for wheat production in Russia by 9 million tonnes
In its August report IGC raised its forecast for global wheat production in 2017-2018 up to 742 million tonnes, by 10 million tonnes more than the July forecast and at 754 million tonnes in 2016 – 2017.

Wheat crop in Russia is increased by 9 million tonens to 80 million tonnes and in Ukraine by 2.5 million tonnes to 26.5 million tonnes.

Crop of wheat in Canada is reduced by 2.6 million tonnes to 25 million tonnes.

Export of Russian wheat will be 32 million tonnes at 28 million tonnes in 2016-2017.

Global stocks of wheat will be 241 million tonnes at 239 million tonnes in the July forecast and 242 million tonnes in the previous season.

Global corn production is down 3 million tonnes to 1,017 million tonnes, accounting for 60.2 million tonnes (61) and China for 213.2 million tonnes (215.2 million tonnes).

Corn stocks will be 199 million tonnes (197 and 228).

Global grain production will reach 2,049 million tonnes (2,053 and 2,124). Grain stocks will reach 480 million tonnes (479 and 516). After five consecutive growth seasons, they are now down.

Global production of soybean will reach 348 million tonnes (348 and 351) and stocks 41 million tonnes (39 and 44).