USDA raised again the global wheat crop and the global ending stocks of wheat in 2017/2018

16 Oct, 2017
USDA raised again the global wheat crop and the global ending stocks of wheat in 2017/2018
In the October report of USDA, global wheat supply in 2017/18 rises by another 7.11 million tonnes to historical high at 1,007.77 million tonnes.

Initial seasonal stocks are raised by 0.75 million tonnes to 256.58 million tonnes.

 

Global production increases by 6.34 million tonnes to 751.19 million tonnes. There is growth in Canada +0.5 million tonnes, India +2.38 million tonnes, Russia +1 million tonnes.

 

Consumption during the season is raised by 2.09 million tonne to 739.63 million tonnes. Ending stocks are at record level as well 268.13 million tonnes (+4.99).

 

USDA again raised its forecast for wheat crop in Russia in 2017 - 2018 by +1 million tonnes to 82 million tonnes. Domestic consumption increases by 0.5 million tonnes to 43.5 million tonnes. Export remains unchanged at 32.5 million tonnes and ending stocks increase by 0.49 million tonnes to 17.33 million tonnes.