USDA: Forecast for global wheat crop is raised significantly

14 Sep, 2017
USDA: Forecast for global wheat crop is raised significantly
In its September report USDA raised global wheat production in 2017 – 2018 up to 744.8 м million tonnes (+1 million tonnes compared to the previos forecast and by -8.5 million tonnes compared to the previous year.)

Expectations for wheat crop in Russia are raised to 81 million tonnes (77.5 and 72.5) and Turkey to 20 million tonnes (19.5 and 17.25). For Australia and the EU, 22.5 million tonnes of wheat (23.5 and 33.5) and 148.87 million tonnes (149.56 and 145.4) were reported.

Global wheat export will decrease by 1 million tonnes to 181.9 million tonnes and to 181.8 million tonnes in 2016-2017.

Global ending wheat stocks declined by 1 million tonnes to 263 million tonnes (+7.4). The decrease is for the EU, India, Pakistan and Morocco.

Global consumption of wheat will be 737.5 million tonnes (737.05 and 738.6).

Crop of wheat in Russia will be 81 million tonnes (+3.5 million tons and + 11.6%). Domestic consumption is growing by 1 million tonnes to 43 million tonnes and export by 1 million tonnes to 32.5 million tonnes, which is almost 17% more than 2016-2017. Ending stocks of wheat in Russia will be 16.84 million tonnes (+1.5 and + 55.3%).

Wheat crop in Ukraine is unchanged compared to August of 26.5 million tonnes, which is 0.2% less than last year. Export increased by 0.5 million tonnes to 16.5 million tonnes (-9%).